Joint statement: Measures to enhance the Union’s security of energy supply
Eurogas and IOGP (International Association of Oil & Gas Producers) recognize the European Commission’s “AccelerateEU – Energy Union” Communication as a timely and necessary step to strengthen the resilience, coordination and flexibility of Europe’s energy system in a context of geopolitical uncertainty.
We appreciate the continued and constructive engagement between the European Commission and the industry through ad-hoc meetings and established fora (Gas Coordination Group, Oil Coordination Group). Sustained dialogue between regulators and operators is essential to ensure effective and realistic policymaking, and should be maintained on a structured basis beyond these periods of crisis.
At the same time, it is essential that any emergency measure remains targeted, temporary and proportionate. Initiatives such as demand aggregation or diversification approaches should remain voluntary in nature and must not distort wholesale price signals. Clear and credible price signals are indispensable to attract natural gas, and crude oil supplies in global markets, particularly in a tightening market characterised by intense competition for LNG cargoes, including by Asian buyers.
Accelerate EU addresses demand-side measures extensively, but provides limited attention to supply-side challenges, notably the potential difficulties in securing sufficient natural gas and crude oil volumes, should the crisis persist. Against this backdrop, we stress the importance of maintaining a strong and well-functioning energy market. The policy framework should provide clear, positive signals to market participants, enabling them to procure necessary supplies for European consumers, notably through revised future gas demand scenarios in the Security of Supply framework.
Europe’s energy transition must go hand in hand with security of supply, affordability and competitiveness. Supporting domestic energy production, accelerating biomethane deployment and preserving industrial resilience will be essential to strengthen Europe’s energy security in the years ahead.
Full joint statement here.
Summary of the recommendations:
- To maximise price relief, flexibilities should be activated by the Commission and Member States as soon as possible, early in the storage season.
- We, together with above 70 organizations, continue to call for targeted amendments to the EUMR, including "stop the clock" - without compromising the ambition of the Regulation.
- Looking ahead, strengthening Europe's resilience should also include a renewed focus on the need to support and increase domestic production of crude oil, natural gas and other gases, including renewable and low carbon, and their derivatives.
- The accelerated deployment of renewable and low-carbon gases - including biomethane and hydrogen - must shift from ambition to concrete commitment. In this instance, the accelerated review of the RFNBO Delegated Act is a necessary step.
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