Changes from plenary report to adopted text

Removed(i) the time of placing the bid or offer;

Removed(ii) the transaction time;

Removed(iii) the time of reporting of the bid, offer or transaction;

Removed(iv) the receipt of LNG market data by the Agency.

Removed2. LNG market participants shall provide the Agency with LNG market data in the following manner:

Removed(a) transaction, bid and offer unit prices shall be reported in the currency specified in the contract and in €/MWh and shall include applied conversion and exchange rates if applicable;

Removed(b) contract quantities shall be reported in the units specified in the contracts and in MWh;

Removed(c) arrival windows shall be reported in terms of delivery dates expressed in UTC format;

Removed(d) the delivery point shall indicate a valid identifier listed by the Agency, such as that referred to in the list of LNG facilities subject to reporting and this Regulation and Implementing Regulation (EU) No 1348/2014; the timestamp information shall be indicated in UTC format;

Removed(e) if relevant, the price formula in the long-term contract from which the price is derived shall be reported in its integrity.

Removed3. The Agency shall issue guidance regarding the criteria under which a single submitter accounts for a significant portion of LNG market data submitted within a certain reference period and how this situation is to be addressed in its LNG price assessment and LNG benchmarks.

RemovedThe Agency shall regularly review, update and publish its LNG reference price assessment and LNG benchmark methodology as well as the methodology used for LNG market data reporting and the publication of its LNG price assessments and LNG benchmarks, taking into account the views of market data contributors.’.

RemovedRegulation (EU) 2017/1938 is amended as follows:

Removed(1) In Article 1, the first sentence is replaced by the following:

Removed‘This Regulation establishes provisions aiming to safeguard the security of gas supply in the Union by ensuring the proper and continuous functioning of the internal market in natural gas and renewable gas and low-carbon gas (‘gas’), by allowing for exceptional measures to be implemented when the market can no longer deliver the gas supplies required, including solidarity measure of a last resort, and by providing for the clear definition and attribution of responsibilities among natural gas undertakings, the Member States and the Union regarding both preventive action and the reaction to concrete disruptions of gas supply.

RemovedThis Regulation also encourages preventive measures that reduce gas demand, including measures enhancing energy efficiency and increasing the share of renewable energy, in order to decrease the Union's dependence on gas imports.’;

Removed(2) In Article 2, the following definitions are added:

Removed‘(27) ‘gas’ – means natural gas as defined in point (1) of Article 2 of [recast Gas Directive as proposed in COM(2021) xxx];

Removed▌

Removed(29a) ‘trading venue’ means any of the following:

Removed(a) ‘regulated market’ as defined in Article 4(1), point (21), of Directive 2014/65/EU;

Removed(b) ‘multilateral trading facility’ as defined in Article 4(1), point (22), of Directive 2014/65/EU;

Removed(c) ‘organised trading facility’ as defined in Article 4(1), point (23), of Directive 2014/65/EU;

Removed(29b) ‘energy-related commodity derivative’ means a commodity derivative, as defined in Article 2(1), point (30), of Regulation (EU) No 600/2014 of the European Parliament and of the Council, traded on a trading venue and the underlying of which is electricity or gas, and whose maturity does not exceed 12 months;’;

Removed(3) In Article 2, the following subparagraph is added:

Removed‘References to natural gas shall be construed as references to gas as defined in point (27).’;

Removed(3a) In Article 6b(1), third subparagraph, point (e) is replaced by the following: '(e) using voluntary mechanisms for the joint procurement of natural gas;’;

Removed(4) Article 7 is amended as follows:

Removed(a) paragraph 1 is replaced by the following:

Removed‘1. By 1 November 2017, ENTSOG shall carry out a Union-wide simulation of gas supply and infrastructure disruption scenarios. The simulation shall include the identification and assessment of emergency gas supply corridors and shall also identify which Member States can address identified risks, including in relation to storage and LNG, and shall in addition include scenarios examining ways to decrease gas demand through energy savings and energy efficiency measures. The gas supply and infrastructure disruption scenarios and the methodology for the simulation shall be defined by ENTSOG in cooperation with the GCG. ENTSOG shall ensure an appropriate level of transparency and access to the modelling assumptions used in its scenarios. The Union-wide simulation of gas supply and infrastructure disruption scenarios shall be repeated every four years until circumstances warrant more frequent updates.’;

Removed(5) In paragraph 4, point (e) is replaced by the following:

Removed‘(e) taking into account risks relating to the control of infrastructure relevant to the security of gas supply to the extent that they may involve, inter alia, risks of underinvestment, undermining diversification, misuse of existing infrastructure, including hoarding of storage capacities, or an infringement of Union law;’;

Removed(6) The following ▌Article ▌ is inserted:

Removed‘Article 7a Preventive and emergency measures

RemovedMember States shall take appropriate preventive and emergency measures, including energy savings and energy efficiency measures. These measures have to take into account the results of the most recent Union wide simulation of disruption scenarios foreseen in Article 7 and need to be appropriate to address the risks identified in the common and national risk assessments.’;

Removed(7) Articles 8(1) and 9(3) to 9(10) shall be moved to become Article 7a(2) to 7a(12);

Removed(8) The following ▌ articles ▌are inserted:

Removed‘Article 7b Efficient and joint use of infrastructures and gas storage

Removed1. Member States shall ensure the use of the existing infrastructure at national and regional level, for the benefit of the security of supply in an efficient way. In particular, Member States shall enable the cross border exchange of gas and cross border access to storage and LNG.

Removed2. The common risk assessments and any subsequent updates shall include an analysis of the adequacy of the capacity of storage facilities available in the region, on the functioning of the storage capacities and their contribution to security of supply of the Union, including risks related to the direct or indirect ownership or control of storage infrastructure relevant for the security of gas supply by third-country entities. The common risk assessments and any subsequent updates shall identify energy savings and energy efficiency measures, in line with the energy efficiency first principle pursuant to [Article X Energy Efficiency Directive recast] and the system efficiency principle pursuant to [Article X Energy Efficiency Directive recast]. This analysis shall compare the role of gas storages with alternative measures such as investments in energy efficiency and renewables. The analysis shall include the cost efficiency of gas storage and shall take into account the risk of stranded investments.

Removed3. Where the results of this analysis in the common risk assessment or in any updates to this assessment indicate that there is a risk at regional level, which may be a risk for one or several Member States of the same risk group, that cannot otherwise be addressed, the Member States shall consider ▌ allowing for a possibility to fully integrate storages in the network of the transmission system operator in case the storage would otherwise stop operations, if such stop of operations would put at risk the secure and reliable functioning of the transmission system. Member States shall consult the relevant risk group before allowing for such a possibility, in particular with regard to how the measures address the risks identified in the common risk assessment. Such a measure shall apply to any storage facility, including storage sites controlled by third-country entities.

Removed3a. Member States in the relevant risk group shall agree on a common coordinated procedure to withdraw the gas stored in storage referred to in paragraph 3 of this Article in the case of a crisis, as referred to in Article 11(1). The common coordinated procedure shall include the arrangements for the withdrawal of gas as part of the actions coordinated by the Commission in the case of a regional or Union emergency pursuant to Article 12(3).

Removed4. The measures adopted pursuant to Article 7a and paragraph 3 of this Article ▌ shall not unduly distort competition or the effective functioning of the internal market in gas or endanger the security of gas supply of other Member States or of the Union and shall be without prejudice to national security of supply rules which include gas stocks. ▌

Removed7. After the internal consultation in the relevant risk group referred to in paragraph 3, the Member States shall consult the GCG. ▌

RemovedAs a transitional provision, within six months from the date of entry into force of this Regulation, all Member States shall complete the existing common and national risk assessments, and where applicable the preventive action plan and the emergency plan, by the necessary addendum to comply with Article 7b, paragraph 2 to 6. These updated plans shall be made public and notified to the Commission following the procedure in Article 8(7), and the Commission shall issue a recommendation under the conditions defined in Article 8(8), to be taken into consideration by the competent authority concerned following the procedure described in Article 8(9).

Removed1. Member States may set up a voluntary mechanism for the joint procurement of gas by transmission system operators or other undertakings designated by the Member States as part of the preventive measures to ensure security of supply.

RemovedSuch a mechanism shall be designed in compliance with Union law, in particular Union and national competition rules and in a way so that gas can also be used as part of the actions coordinated by the Commission in the event of a regional or Union emergency, as referred to in Article 12(3).

RemovedThe mechanism shall be open to participation of all transmission system operators or other undertakings designated by the Member State, gas suppliers and other relevant market participants within the Union who wish to join after its establishment.

Removed2. The participating Member States shall notify their intention to establish such a mechanism to the Commission. The notification shall include the information necessary to assess the compliance with this Regulation, such as the volume of gas to be purchased, the duration of the measure, the participating transmission system operators or other undertakings designated by the Member States as well as gas suppliers and other relevant market participants, the governance arrangements, the operating procedures and conditions for activation in an emergency situation. It shall also specify the costs and benefits expected. The Commission shall inform the Gas Coordination Group of the notification received and if appropriate ACER.

Removed3. Within three months of a notification as referred to in paragraph 2, the Commission may issue an opinion ▌as to the compliance of the envisaged mechanism with this Regulation. ▌ The participating Member States shall take the Commission opinion in the utmost account.

RemovedArticle 7da Commission guidelines on the use of voluntary mechanism for the joint procurement of gas

RemovedBy ... [three months after the date of entry into force of this Regulation], the Commission shall adopt guidelines on the use of voluntary mechanism for the joint procurement of gas referred to in Article 7d of this Regulation. When adopting those guidelines, the Commission shall take into account the lessons learnt from demand aggregation and joint purchasing established under Regulation (EU) 2022/2576.

RemovedBy ... [one year after the date of entry into force of this Regulation], the Commission shall submit a report to the European Parliament and to the Council on the application of Articles 7b, ▌ 7c and ▌ 7d and on the experience, benefits, costs, and any obstacles encountered in the use of the possibility of joint procurement of gas. That report shall be accompanied, if appropriate, by a legislative proposal.

Removed1. Natural gas undertakings or undertakings consuming gas established in the Union or authorities or regulated entities of Member States, which intend to enter into negotiations with natural gas producers or suppliers on the purchase, trade or supply of gas of a volume above 5 TWh/year, shall inform the Commission of their intention to conclude a gas supply contract or a memorandum of understanding before concluding such a contract or memorandum of understanding in accordance with this Article.

Removed2. Natural gas undertakings or undertakings consuming gas established in the Union or authorities or regulated entities of Member States shall inform the Commission at least six weeks before concluding a legally binding contract or memorandum of understanding referred to in paragraph 1, about the identity of the contract partner or partners, the relevant volumes, the relevant dates, the origin of gas and, where applicable, the service provider organising such purchases on behalf of a Member State.

Removed3. If the Commission considers that planned gas purchases of natural gas undertakings or undertakings consuming gas established in the Union or of authorities or regulated entities of Member States may have a negative impact on functioning of joint purchasing, the internal market, essential security interests of the Union, or on security of supply or energy solidarity, the Commission shall issue a recommendation to the relevant Member States to take appropriate measures to avoid such a negative impact. The Member State concerned shall take the utmost account of the Commission’s recommendation.

Removed4. When providing information to the Commission in accordance with paragraphs 1 and 2, the entities providing the information may indicate whether any part of the information, be it commercial or other information the disclosure of which could harm the activities of the parties involved, is to be regarded as confidential and whether the information provided can be shared with other Member States.

Removed5. Requests for confidentiality under this Article shall not restrict the access of the Commission itself to confidential information. The Commission shall ensure that access to the confidential information is strictly limited to the Commission services for which it is absolutely necessary to have the information available. Commission representatives shall handle sensitive information with due confidentiality.

Removed6. Without prejudice to Article 346 TFEU, information that is confidential shall be exchanged with the Commission and other relevant authorities only where such exchange is necessary for the application of this Regulation. The information exchanged shall be limited to that which is relevant and proportionate to the purpose of such exchange. Such exchange of information shall preserve the confidentiality of that information and protect the security and commercial interests of the entities falling within the scope of this Regulation. The Facility shall not use the information collected for any other purpose than for carrying out the contract.

Removed7. All servers and information shall be physically located and stored in the territory of the Union.’;