EU Opens Third Round of Matchmaking for Potential Gas Deals
Posted 25/09/2023 11:47
EU companies have until a specified date to place their purchase offers, followed by a tender process during which suppliers submit their offers. Gas delivery is scheduled between December 2023 and March 2025.
AggregateEU, created to diversify fossil fuel supply away from Russia, aligns with the EU's REPowerEU strategy. This strategy aims to phase out Russian fossil fuels from the EU's supply chain by 2027. Member states are obligated to allot at least 15% of their target gas storage filling volume for AggregateEU in 2023, totaling 13.5 billion cubic meters. EU states without underground gas storage facilities must meet the 15% minimum through arrangements with other countries.
EU Energy Commissioner Kadri Simson noted that the EU had already reached its annual target of restocking gas storage facilities to at least 90% of capacity by November 1. She emphasized the need for European companies to continue purchasing gas collectively to ensure stable and affordable supplies, particularly in light of a tight gas market.
With EU storage facilities nearing capacity, the bloc has started sending gas to Ukraine for future re-export. Simson is working with Ukraine's Energy Minister to facilitate regulatory de-risking for EU companies to access Ukraine's gas storage capacity.
The AggregateEU service aims to enhance the EU's energy security and reduce its reliance on Russian gas, aligning with broader energy transition goals and diversifying supply sources.