The European Parliament is poised to support a proposal aimed at injecting greater flexibility into the European Union’s natural gas storage rules, a move designed to curb price volatility and market speculation ahead of the coming winter. The initiative, set to be voted on during the plenary session in Strasbourg from May 5 to 8, stems from a legislative draft already endorsed by the Parliament’s Industry, Research and Energy Committee.
At its core, the proposal seeks to extend and revise the existing EU regulation on gas storage, which was introduced in 2022 in response to the energy crisis triggered by Russia’s invasion of Ukraine. The regulation mandates member states to ensure minimum levels of gas storage as a safeguard against supply shocks. Without further action, the current framework will expire at the end of 2025. The new plan proposes a two-year extension, through December 31, 2027, as part of a broader strategy to reinforce the EU’s energy security and stabilize the gas market across member states.
One of the most notable revisions involves reducing the mandatory fill level for gas storage from 90% to 83%, to be achieved annually between October 1 and December 1. The aim is to avoid artificial market pressure and speculative price hikes caused by rushed efforts to fill storage facilities by a fixed deadline. Lawmakers believe this more relaxed target will offer a better balance between energy preparedness and economic efficiency, helping to protect consumers and industries from unnecessary cost spikes.
The proposed changes also introduce mechanisms for flexibility in times of crisis. EU countries could be permitted to fall short of the target by up to four percentage points during periods of exceptional demand or supply disruption. Under special circumstances, the European Commission would have the authority to approve an additional deviation of up to four points, provided that storage levels do not fall below the critical threshold of 75%.
For Greece, a country with limited underground storage capacity, the implications are particularly significant. Unlike countries with large domestic storage infrastructure, Greece depends on interconnected systems, such as the Revithoussa LNG terminal near Athens and gas storage facilities in neighboring states. These regional arrangements allow Greece to meet its EU storage obligations, but often at a higher logistical and financial cost. The added flexibility proposed by the European Parliament would enable Greece to fulfill its responsibilities more efficiently and at a lower burden, especially in a high-price environment.
Moreover, by easing the urgency to rapidly fill storage facilities, the proposal could help reduce the price pressure that typically arises during peak summer refill periods. This could lead to more stable or even lower gas prices heading into winter—an outcome that would benefit both Greek households and the country’s energy-intensive industries, for which fuel costs are a central factor in competitiveness.
Importantly, the flexibility to deviate from strict storage targets would also enhance Greece’s ability to respond to sudden disruptions in supply, whether from LNG-exporting countries or via pipeline. With winter demand spikes and geopolitical uncertainty continuing to pose risks, this capability could prove crucial.
