Conexus: Latvia has complied with new European regulation
Conexus Baltic Grid (hereinafter - Conexus) informs that Latvia has already complied with the requirements of the European Union (EU) Gas Storage Regulation, which requires Latvia to fill its gas storage facilities to 35% of the country's consumption by November.
In order to comply with the Gas Storage Regulation, Latvia must store 35% of its average consumption over the last five years, which Conexus calculates at 4.46 TWh, as Latvia's average consumption over the last five years was 12.74 TWh.
As of 30 June 2022, the total storage capacity of the Inčukalns underground gas storage facility is 9.71 TWh, while the storage capacity of users registered in Latvia is 4.85 TWh, which is 50% of the total natural gas storage capacity.
Uldis Bariss, Chairman of the Management Board of Conexus Baltic Grid AS, said: "The adopted regulation will strengthen the EU's security of gas supply in view of the upcoming and future winters. The EU Gas Storage Regulation requires European gas reserves to be filled and managed before winter to be protected against external interference. From this perspective, the current volume of natural gas pumped into storage should be considered very good, as 40% of the capacity for the 2022/2023 pumping season has already been filled."