On December 14, the EC will adopt new recommendations for managing gas purchases and stocks

 

The European Commission (EC) will adopt on 14 December recommendations for updating EU regulations on the management of natural gas purchases and stocks, which will also cover the conversion of existing hydrogen storage facilities to hydrogen storage. This was stated on Thursday by EU Commissioner for Energy Kadri Simson at a press conference after a meeting of the EU Council at the level of energy ministers, TASS reports.

  "The European Commission is preparing a package of proposals to regulate the gas and hydrogen markets, which will be adopted on December 14," she said. "One of the most important elements of the package will be gas storage issues. We believe that the creation of gas reserves will provide the necessary sustainability in the event of gas crises. " Simson added that the proposals would include strategic advice on the transition to hydrogen fuel.

  "We need a strategic and more coordinated approach. "We are exploring how the joint purchase of gas storage facilities can increase sustainability and contribute to price stability," she said.

  Commenting on Europe's continuing unusually high gas prices, she said the European Commission "does not consider it necessary to review the EU's gas pricing system". She expressed the opinion that this year has become an exception and in the future the prices of gas purchased on the spot markets will be lower than the prices under long-term contracts. She added that until the preliminary analysis of the markets by the European Commission "did not reveal non-competitive speculative practices", the final report on this topic will be prepared until next year.