EU Prepares for Winter Amid Gas Price Hikes

The European Commission's coordination group on gas discusses impacts of gas price hikes from the Iran crisis. While supply risks are minimal, long-term consequences are expected. EU member states are encouraged to refill gas storage to 80% by November, with an early injection recommended to avoid late summer rush.

The European Commission's gas coordination group convened Thursday to address the repercussions of gas price surges following the Iran crisis. Despite no immediate supply risks, long-lasting impacts are anticipated, a European Union official reported post-meeting.

The official emphasized the importance of winter preparation, stating, "The EU now has the time and tools to anticipate challenges and prepare accordingly."

Additionally, EU member states are urged to achieve 80% gas storage capacity by November, with early injections favored to avert a last-minute rush at summer's close.

(With inputs from agencies.)