European Commission President Ursula von der Leyen has put forward an initiative to establish common strategic gas reserves in the European Union. The proposal is viewed as a long-term tool for energy security that would allow member states to respond more quickly to supply disruptions and sharp price fluctuations.
According to von der Leyen, a joint reserve would help stabilize the market and reduce dependence on individual suppliers. She stressed the need to avoid a repeat of the 2022 situation, when reduced Russian supplies triggered market panic and forced EU governments to spend billions of euros on emergency purchases.
The initiative was discussed against the backdrop of concerns about the upcoming winter season. Existing European gas storage facilities, which are normally replaced by commercial companies, are at record low levels this year. High summer prices weakened market incentives to build up stocks, leaving the bloc insufficiently prepared for the cold season.
It remains unclear what exact form the proposed reserve will take. One senior EU official described it as a long-term measure to mitigate future supply risks — like the strategic reserves of oil and petroleum products that already exist. European Commission documents related to the overhaul of the gas supply security system also contain proposals to encourage companies to manage crisis situations more effectively, although they do not yet explicitly call for mandatory government-held reserves.
The proposal was raised at the EU leaders’ summit in Brussels. Diplomats note that the details of the mechanism still need to be worked out.
