The 2022 gas supply shock put gas storage and regulation at the very centre of supply security policies.
The EU introduced mandatory storage fill obligations, Singapore established its Standby LNG Facility system, while Japan is set to introduce the Strategic Buffer LNG system ahead of the 2023/24 heating season.
This year’s IEA Global Gas Security Review includes a special focus on natural gas storage and its evolving regulatory frameworks. The analysis was facilitated by a survey carried out amongst countries representing 70% of global gas storage capacity.
There is also a strong drive behind additional investments into gas & LNG storage, set to expand by 10% (or 45 bcm) by 2028 -primarily led by China, Europe and to a lesser extent Eurasia.
What is your view? How will gas storage regulation evolve in the coming years? What are the major challenges behind additional investments?
Source: Greg MOLNAR
