EU Energy Commissioner Dan Jørgensen recommended lowering the storage target to 80% of capacity, 10 percentage points below the current EU-wide goal, in an effort to stabilise prices and manage expected demand.
The Commission is also urging countries to start replenishing reserves now to smooth supply dynamics ahead of potential further disruptions.
The move comes after Iranian strikes damaged key gas infrastructure in Qatar, hitting around 17% of the country’s liquefied natural gas export capacity. Two gas transmission installations and one of two liquefaction plants were affected.
Repairs could take up to five years, potentially reducing Qatar’s annual LNG exports by nearly 13 million tonnes and tightening global supply.
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Source: IAR