EU urges lower gas storage targets amid Iran war: Report

01:12 PM (Mecca time) Argaam

The EU has urged member states to lower natural-gas storage targets and ​start refilling reserves gradually to curb demand, as energy ‌prices spike during the US-Israeli war on Iran, the Financial Times reported on Saturday.

 

Energy Commissioner Dan Jorgensen instructed member states to lower the filling target ​for their gas storage facilities to 80% of capacity, 10 ​percentage points below the EU’s official targets, “as early as ⁠possible in the filling season to provide certainty and reassurance ​to market participants”, the newspaper said, citing a letter.

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