EU Advocates Lower Gas Storage Goal Amid Mideast Conflict's Supply Strain

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EU Urges Members to Lower Gas Storage Target Amid Iran War, Price Surge

While Europe is entering its warmer months, this is the period its countries refill their gas storage in preparation for winter. Photo: File

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Firstpost•21-03-2026, 23:08

EU Urges Members to Lower Gas Storage Target Amid Iran War, Price Surge

•European Commission asks EU member states to reduce natural gas storage target to 80% from 90%.
•The move aims to alleviate price pressures caused by the war in the Middle East and attacks on energy infrastructure.
•Iran's retaliation, including attacks on Gulf neighbors and closure of Strait of Hormuz, has driven oil and gas prices up.
•Oil prices soared over 50% and EU natural gas prices rose more than 30% since February 28.
•EU energy commissioner Dan Jorgensen advises refilling stores early and over a longer period to mitigate price pressure.

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