Netherlands earmarks €1 billion for gas purchases in 2027 — 2028

AMSTERDAM, Oct 16 (Reuters) — The Dutch government on Friday said it would earmark up to €1 billion ($1.13 billion) next year for state-owned energy company EBN to procure gas in case commercial companies fail to meet gas storage targets. EBN would be tasked to make sure there is 80 terrawatt-hours (TWh) of gas in Dutch storages in the 2027-2028 winter season if gas companies fail to do so, the government said. The EU tasked the Netherlands to fill storages with 103 TWh of gas this year, with a 10% margin for difficult market circumstances. A new EU target for 2027-2028 has not been set yet. In the past five years, an average of 70 TWh per year has been taken from Dutch storages to meet winter demand. ($1 = 0.8884 euros) (Reporting by Bart Meijer; Editing by Joe Bavier) ((mailto:Bart.Meijer@thomsonreuters.com;)