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EU moves to triple energy storage capacity by 2030

The plan comes amid strained supplies, with Europe’s natural gas reserves reported at just above 50 percent capacity.

Reported · Written up by our desk · Energy

OilPrice reports that the European Union is fast-tracking energy storage development, aiming to triple its energy storage capacity by 2030.

The outlet links the push to a backdrop of frequent supply stress in Europe, including energy crisis conditions described as intensifying during the past several years and concerns over grid reliability.

OilPrice also points to low natural gas reserves, saying they are barely above 50 percent capacity, while imports are described as having slowed to a trickle due to the closure of the Strait of Hormuz.

According to OilPrice, avoiding another energy crisis would require easing reliance on energy imports, alongside accelerating indigenous energy supplies such as solar and wind, though the outlet notes intermittency risks as renewables expand.

Latest closeNat gas $2.620 ▼2.5%

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