How should Europe ensure well-functioning gas market?

By  Trend

An adequate regulatory framework in gas market of Europe is already in place which has to be consistently applied in the face of security issues, Eurogas told Trend.

"Eurogas was pleased with the results of the Regulation on Security of Gas Supply (994/2010) revision in 2015 and believes that sound implementation of the above-mentioned regulation, of internal market legislation and other relevant legislation including EU competition law, should be enforced to ensure a well-functioning gas market," said the organization.

Eurogas said gas supply security is a focal point of the Energy Union concept.

"The EU’s security of supply measures along with the completion of missing infrastructure links and a market-driven approach will enhance supply security and support the pivotal role that gas needs to play in all energy sectors for the EU to reach its energy and climate goals in a cost-efficient way."

"Gas is a highly reliable energy source due to its robust infrastructure and diverse supplies from inside and outside the EU. International gas trading is also important for balanced commercial relationships with Europe’s neighboring countries. The internal gas market has been improving y-o-y with significant reductions in spread, resilience in terms of security of supply and a robust, well spread out infrastructure in harsh conditions."