Extension of strategic gas reserve
10.07.2024 – 10:18
Vaduz (ots)
At its meeting on 9 July 2024, the Government approved the Report and Motion of the Government on extension of the interest-free loan to Liechtenstein Wärme - the establishment responsible for Liechtenstein's natural gas supply - to maintain the country's strategic gas reserve.
Pursuant to the Ordinance of 29 June 2022 on Securing the Supply of Natural Gas in the Event of a Serious Shortage (Natural Gas Supply Security Ordinance, EVSV), Liechtenstein Wärme has been commissioned to maintain a strategic natural gas reserve amounting to 80 gigawatt hours (GWh) for the period between 1 November 2022 and 1 April 2025. This amount corresponds to approximately two winter months of consumption in Liechtenstein. In 2022, the Liechtenstein Parliament approved an interest-free loan of up to CHF 25 million to finance the strategic gas reserve.
Since the introduction of the strategic gas reserve in the second half of 2022, the natural gas supply in Europe has recovered and is now stable as of the beginning of July 2024. Strategic measures and international cooperation have reduced dependence on Russian natural gas, a development supported by the diversification of gas suppliers and the expansion of LNG terminals and pipelines from Norway and North Africa. Despite the progress made, it continues to be a challenge to secure energy supplies. In light of the geopolitical situation, European countries continue to take precautionary measures such as maintaining strategic reserves.
The Government is therefore requesting that Parliament extend the interest-free loan to Liechtenstein Wärme to maintain the strategic gas reserve until mid-2027. If approved by Parliament, the Government will also extend the Natural Gas Supply Security Ordinance to ensure that the strategic gas reserve is maintained up to and including the winter half-year of 2026/2027.
Contact:
Ministry of Home Affairs, Economy and the Environment
Mario Thöny
T +423 236 60 15
mario.thoeny@regierung.li