European Leaders Discuss European Internal Gas Market

While rumours suggest that Poland and Lithuania should sign a deal for a 534km pipeline on Thursday, European gas market regulators, EU countries and stakeholders are meeting in Madrid to discuss Europe’s internal gas market. 

‘Discussions at the Madrid Forum will focus on the gas supply outlook for the upcoming winter and work under the EU's plan for Energy Union including on gas supply security and the Commission’s LNG and gas storage strategy. Participants at the Forum will also debate how to improve regional cooperation on gas and the harmonisation of gas quality standards across Europe’ reads a note released by the European Commission, referring to meetings on Wednesday and Thursday.  

According to the Commission, the focus is on cross-border gas tariffs, and rules for allocating new gas transmission capacity.

On Tuesday, the Financial Times wrote that the two countries are expected to sign the contracts in Brussels on Thursday, adding that the European Commission should support the project, covering more than 50% of the total cost of €558 million via its Connecting Europe Facility.