Europe’s stockpiles of natural gas have been a closely watched metric since the invasion of Ukraine triggered a dramatic downturn in Russian supply to the region.The network of gas storage sites across the European Union is the second largest in the world after the US and has become an increasingly important buffer against supply shocks and price spikes.

The EU plans to relax its gas storage refilling targets for member states, as it tries to reduce market disruption that had disincentivised countries from stocking up for the winter.

The current EU targets mandate member states to fill gas storage caverns to 90% capacity by 1 November each year.

The European Commission proposed on Wednesday retaining the EU's gas storage requirements and targets for two more years, despite concern among some countries that the goals are pushing up gas prices.

In the current geopolitical context and volatile situation in the global gas markets, this 2-year extension will contribute to ensuring continued security of energy supply across the EU'.

The European Commission wants the two-year extension to help ensure energy security but has also issued a recommendation to provide countries with greater flexibility in meeting targets.

Member states demand softer summer filling goals, arguing current binding rules drive up prices and burden countries with large storage capacities.

The European Commission proposes extending the EU's gas storage targets until 2027, citing energy security. However, some countries express concerns that strict deadlines are increasing gas prices. The proposal includes binding targets to fill storage by November 1 and indicative targets for earlier months.