European Parliament Approves Plan to Stockpile Gas Before Winter

The European Parliament (EP) today approved a plan to speed up the storage of natural gas in European Union (EU) countries before winter with the aim of protecting households and businesses in the event that Russia decides to suspend supplies in retaliation for economic sanctions over the war in Ukraine. The new regulation, approved by 490 votes in favor, 47 against and 55 abstentions, aims to “shield” reserves from “external interference” and sets a target of having strategic gas reserves at least 80% of capacity by 1 November, according to a Parliament statement released on Thursday. The plan, already agreed…