Following the success of the first two natural gas supply tenders under the European Union’s (EU) joint purchasing initiative this year, the European Commission (EC) is considering whether to extend or make the scheme permanent when it is due to expire in December. 

EU imports

The Joint Participation Platform (JPP) was created in 2022 and launched this year to secure gas supplies for Europe after Russia reduced pipeline deliveries to Europe following the Kremlin’s decision to invade Ukraine. The platform is designed to match buyers and sellers of both pipeline gas and liquefied natural gas. Two tenders have been completed so far. 

Although EU gas storage facilities are unusually full at nearly 94%, Europe remains concerned about securing enough supplies for the upcoming winter season,...