EU member states to jointly purchase natural gas, LNG, hydrogen – Region, 23 March 2022

At this week’s meeting of the European council, the EU member states will agree to jointly purchase natural gas, liquefied natural gas (LNG) and hydrogen ahead of next winter.

This year, more supplies will be needed as, according to the European Commission’s upcoming legislative proposal, underground gas storage across the EU must be filled up to at least 90 % of its capacity by 1 October each year. Currently, storage volumes are at 26 %.

Russian invasion of Ukraine has caused energy prices to soar to record highs and put the EU on a mission to cut Russian gas use this year, a move that will require a jump in imports from other suppliers, such as Qatar and the United States.

The European Commission last year proposed a system for EU countries to jointly buy strategic stocks of gas, which some members including Spain had called for as a way to provide a buffer against potential supply disruptions. Russia supplies some 40 % of EU gas.

European gas prices had already risen in the months leading up to the invasion, prompting governments to spend billions on tax breaks and subsidies to shield citizens from the costs.

Finding a joint EU response, however, has proved difficult. EU countries are largely responsible for their national energy policies, and disagree on whether EU-wide action is needed to tame prices.

Spain, Belgium, Portugal, Italy and Greece are among those calling for intervention in Europe’s energy markets, to cap prices or decouple the price of electricity from the soaring price of gas.

States including Germany, the Netherlands and Denmark oppose market intervention, and warn of causing disruptions to energy markets that could undermine investments in clean energy.

Subscription fee: 990 EUR annually (pdf newsletters, excel data, online news database – company licensed

Tags: , , , ,

"Energy NEWS" service, HUPX forecasts (Day ahead, Week ahead, Month ahead), Country Reports on Energy Business


Balkan Energy NEWS service exists for over 10 years, and during that period, we earned trust of major European utilities, generators, traders and investment banks. We do not preserve good quality of service – we are constantly improving it, in order to always be one step ahead, and justify trust of our customers with quality.  Our trademark service is "Energy NEWS service", created as a response to expansion of energy market in South East Europe, with a goal to provide current and future market players with data and information for investments in energy sector and electricity trade.

Through our products, we cover countries of South East Europe: Albania, Bulgaria, Bosnia and Herzegovina, Croatia, Greece, Hungary, FYR Macedonia, Montenegro, Romania, Serbia, Slovenia and Turkey. We also publish news articles from Middle East, Eastern and Central Europe, when of influence to SEE

Balkan Energy products:


"Energy NEWS" service

  • PDF: SEE+Hungary Energy Daily: published 3 times per week (45-50 pages per edition)
  • PDF: Balkan Energy NEWS publication: published 2 times per month (90-110 pages per edition) + excel files<
  • Web portal: Database access to all published news articles, with date/country filters and search by keyword (+200 EUR annually on PDF subscription price)
  • In addition to being most complete and most affordable energy service for SEE, it is also company licensed with unlimited number of users.


    Month ahead forecast: HUPX and SEE Trading Tool

    Month-ahead report on HUPX price forecast, containing daily HUPX base price forecast, info on maintenance of generation units and many other useful information for electricity trading  in Hungary and SEE.


    Country Reports on Energy Business - All need-to-know energy info in one report!

    Country reports provide comprehensive overview of electricity sector for countries of South Eastern Europe. At the moment we have available up-to-date country reports for Bulgaria, Romania, Slovenia, Croatia, Bosnia and Herzegovina, Montenegro, Serbia and FYR Macedonia.

    For each country, our reports give description and data on:

  • General description of the electricity market
  • Consumption, production and export characteristics
  • Actualities – hot topics
  • Market liberalizations, electricity prices and tariffs
  • Key market players
  • Legislation and electricity market opening
  • Potentials for investments in power generation
  • Analyses of seasonal export/import trends
  • Detailed analysis of Cross Border Capacities
  • Country reports are updated every three months. For each ordered report, you will receive updates during one year period, free of charge. For ordering all of the reports together, additional discount can be applied.