European Energy Commissioner Dan Jørgensen is urging EU nations to begin refilling gas reserves earlier than usual to avoid last-minute price spikes, following supply disruptions tied to delays in Qatari LNG shipments amid U.S.-Israel military actions against Iran.
The bloc remains relatively protected due to limited reliance on Qatar and LNG passing through the Strait of Hormuz, which Iran closed, disrupting 20% of global oil and gas transport. Belgium, Italy, and Poland face higher risk, according to QatarEnergy CEO Saad Sherida al-Kaabi.
Jørgensen’s March 20 letter emphasizes coordinated preparation for winter, citing rising global volatility after President Trump’s 48-hour ultimatum to reopen the strait. Iran threatened Gulf energy infrastructure and desalination plants; Trump later paused strikes for five days.
EU storage rules now allow flexibility-some countries can cap fills at 80%, with exceptions down to 70%-to reduce pressure during supply tensions. Current levels stand at around 30%, below last year and the 10-year average of 58%.
Commission President Ursula von der Leyen announced 'temporary, tailored, targeted' measures to curb electricity costs, including lowering electricity taxes, reforming grid charges, and reviewing Emissions Trading System (ETS) allowances beyond 2034.
Italy, Austria, Greece, Portugal, and Spain are deploying tax cuts, windfall taxes, price caps, and subsidies. Spain is also decoupling gas from electricity pricing-a structural fix that has lowered bills in the Iberian Peninsula. Slovakia restricts fuel exports to prioritize domestic supply.
Despite ongoing challenges, the Commission asserts Europe is better prepared than in 2022.