The European Commission proposed Thursday to prolong its Gas Storage Regulation until the end of 2027, citing ongoing geopolitical uncertainty and volatile global gas markets. 

The two-year extension aims to ensure continued energy security and market stability across the European Union. EU’s current regulation, adopted in June 2022 during the energy crisis, mandates that EU member states fill gas storage facilities to at least 90% capacity before each winter.

Energy and Housing Commissioner Dan Jørgensen said the extension would provide necessary flexibility for member states to refill storage throughout the summer under optimal conditions, preventing market distortions and reducing market stress.

“Gas storage has shielded EU citizens from the risk of supply disruptions, and this is why it is crucial that we continue with this tool,” Jørgensen said in a statement.

A separate report released Thursday highlighted the regulation's success in ensuring security of supply and reducing the EU’s dependence on Russian energy. The EU has consistently exceeded its 90% filling target before each heating season.

The commission also issued a recommendation urging member states to consider current market conditions and allow flexibility in refilling storage facilities this summer, preventing negative impacts on the internal energy market or other EU countries.

In addition to the proposal, which will now be debated by the European Parliament and the Council, the commission also announced plans to review the EU’s energy security framework, potentially leading to more permanent storage-related measures. 

Meanwhile, the commission continues to monitor gas supply security with member states through the Gas Coordination Group, coordinating potential measures for optimal storage refilling.