Key facts
- EU leaders are considering bloc-wide strategic gas reserves.
- Current gas storage levels are at record lows.
- The Netherlands has subsidized energy purchases costing nearly €1 billion.
- Germany is exploring its own strategic stockpile.
European Commission President Ursula von der Leyen has proposed that EU leaders explore the creation of bloc-wide strategic gas reserves. This initiative comes amid concerns that the continent may face a gas shortage this winter, as current storage levels are at record lows. The proposal is intended as a long-term measure to protect the bloc from future supply disruptions, similar to existing strategic oil reserves. High summer prices, linked to the war in Iran, have reportedly undercut market incentives for commercial actors to refill storage facilities. The Netherlands has already spent nearly €1 billion on energy purchase subsidies, and Germany is investigating the development of its own strategic stockpile. A separate proposal for a joint EU energy purchasing mechanism was met with little enthusiasm by leaders.