ACER issues its Opinion on the Summer Supply Outlook 2024 published by the European Network of Transmission System Operators for Gas (ENTSOG).
What’s in ENTSOG’s Summer Outlook 2024?
ENTSOG’s Summer Outlook 2024 evaluates the expected gas supply and the capacity of the EU gas infrastructure to meet demand, exports, and storage needs during summer 2024. It focuses on the goal of filling gas storage to 90% by 30 September 2024, considering scenarios of minimised and complete disruption of Russian pipeline supply, and varying Liquified Natural Gas (LNG) supply levels.
The Oulook’s key findings highlight that new LNG terminals have reduced the EU’s dependence on Russian gas supply. Combined with high storage levels at the start of summer 2024, this could allow the EU to fill its gas storage without relying on Russian imports. Gas storage remains crucial for security of gas supply, providing essential flexibility to the gas system during winter.
What is in the ACER Opinion?
- ACER acknowledges improvements in ENTSOG’s Outlook methodology and appreciates the inclusion of gas supply scenarios addressing major supply risks and uncertainties concerning future Russian gas flows via Ukraine after the end of 2024.
- ACER agrees with ENTSOG’s recommendations for mitigating the risks of gas supply-demand imbalance in a scenario where Russian pipeline supply ceases and LNG supply to EU is limited. Specifically, ACER supports the need for gas demand reduction and increased LNG imports from different sources to ensure adequate security of supply levels for the winter of 2024/25.
- ACER recommends ENTSOG to consider further improvements to its Outlook methodology, including a low LNG supply scenario that excludes Russian LNG supply imports.
