European orders will increase energy storage demand next year

What will the European Commission do about gas storage?

The Commission will also continue monitoring the security of gas supply of the EU with EU countries in the Gas Coordination Group, and coordinate any potential measures taken to ensure optimal storage refilling. The European Commission proposed today to prolong the current Gas Storage Regulation until the end of 2027.

How much energy storage will Europe have in 2022?

Many European energy-storage markets are growing strongly, with 2.8 GW (3.3 GWh) of utility-scale energy storage newly deployed in 2022, giving an estimated total of more than 9 GWh. Looking forward, the International Energy Agency (IEA) expects global installed storage capacity to expand by 56% in the next 5 years to reach over 270 GW by 2026.

Why is Europe facing a natural gas supply challenge this year?

Europe faces a natural gas supply challenge this year as it needs a significant volume of gas to meet storage targets for next winter, potentially driving up prices for liquefied natural gas. Europe must import 10 million tons of LNG, about 10 percent more than in 2024, to cover projected demand.

How big will energy storage be in the EU in 2026?

Looking forward, the International Energy Agency (IEA) expects global installed storage capacity to expand by 56% in the next 5 years to reach over 270 GW by 2026. Different studies have analysed the likely future paths for the deployment of energy storage in the EU.

How will the gas storage regulation affect the EU?

“It will notably ensure that the EU prepares for the upcoming winter seasons in a coordinated manner”. The Gas Storage Regulation was adopted June 2022 at the height of the energy crisis. It will expire at the end of 2025.

How did EU gas and electricity markets perform in Q4 2024?

EU gas and electricity markets in the fourth quarter of 2024 proved their resilience further by ensuring stable and secure energy supplies, strengthening market integration and continuing the increase in the share of renewables, while keeping prices in check, according to the new quarterly reports for both markets published today.