Position Paper
06.12.2024
Eurogas response to the European Commission’s energy security fitness check consultation
In September 2024, the European Commission published a consultation on the fitness of Europe's energy security.
In summary, Eurogas' position is that:
- The EU should not prevent market participants from concluding long-term supply contracts, by providing a clear forecast of the demand for molecules in the future EU energy mix, clarifying the implications of the Gas Package provision on the end of long-term contracts for unabated fossil gas after 2049, and the impact of the Methane Regulation on supply security
- The EU should focus on the immediate scale-up of the production of renewable and low-carbon gases, investment in BECCS and CCUS technologies
- We welcome a reassessment of the EU as Security of Supply architecture which should avoid a distortive effect due to market interventions such as disproportionate costs or market fragmentation. Maintain Aggregate EU as a voluntary mechanism, abolish the Market Correction Mechanism and assess Gas Demand Reduction measures impact on EU competitiveness.
- If a prolongation of Gas Storage Regulation is considered, it should be conditional to an impact assessment and consideration of regional specificities/market conditions. Amendments to the provisions should be considered (storage filling targets, fewer intermediary targets, clarity, transparency and simplification of the provisions).
