This was reported by European media on Saturday, March 21, citing the Financial Times (FT).
As European Commissioner for Energy Dan Jorgensen specified in a letter, the target should be lowered to 80% of capacity, which is 10 percentage points below the official EU targets, and should be done “as early as possible in the build-up season to provide certainty and peace of mind to market participants”.
Meanwhile, the EU’s energy supply “remains relatively secure,” Jorgensen added, calling for a “collective response” to the conflict. He said “recent events indicate that it may take longer” for LPG production to return to pre-crisis levels.
Gas prices in Europe jumped by 35%
The European Commission has not yet responded to the FT’s request for comment. An EU official said the targets should be made more flexible.
Gas prices in Europe jumped 35% on March 19 due to damage caused by strikes on gas facilities in the Middle East, Reuters recalled.
The EU is still committed to completely phasing out LNG imports from Russia by the end of 2026 despite the energy supply crisis, European Commission President Ursula von der Leyen said on the night of March 20 at a press conference following an EU summit.
“We have clear targets and we are sticking to them,” von der Leyen said when asked about the possibility of postponing the deadline for halting LNG imports from Russia due to damage to production facilities in Qatar and a global supply disruption.
“We are on track in the medium to long term and our targets are very clear”, the politician continued.
Prior to that, on March 18, the European Commission instructed governments to be flexible in applying EU rules on gas imports, Reuters recalled.
