European Commission on Wednesday proposed a set of rules that would allow EU member states to jointly buy strategic natural gas reserves, in line with a plan that also provides for strengthening natural gas storage and adding more low-carbon gas to the grid, Reuters reports.

Several Member States such as Spain, Greece and Romania have called for joint acquisitions of natural gas, a measure that they say will help boost supplies. In recent months, the price of natural gas has reached historic highs, fueled by factors such as high demand and Russia’s drop in expected exports.

The EU executive responded with a proposal for a system in which system operators could jointly purchase strategic natural gas stock, which could be used in an emergency situation where there is a severe shortage. Participation in this system will be done on a voluntary basis and in the first phase countries will have to notify the European Commission, communicating details such as the volumes of gas to be purchased, operational procedures to activate stocks in an emergency situation and also estimated costs and benefits, according to Agerpres.

Also, according to the Commission proposal, EU countries will have to include deposits in their regional gas risk assessment, including issues related to storage infrastructure owned by foreign companies. When identifying risks, countries should consider measures such as forcing system operators to buy strategic stocks.

Spanish Deputy Prime Minister Teresa Ribera told reporters on Tuesday that joint procurement rather than individual procurement would help achieve more favorable conditions in global gas markets. Instead, officials from other EU member states said they did not expect their countries to take part in such a scheme.

The Community Executive’s proposal will not enter into force in time to combat rising prices this winter, as months of negotiations with the European Parliament and the Member States follow, which must also approve the rules proposed by the Commission, although they have opposite opinions on the role of natural gas in the energy transition.

The Commission’s proposal would require Member States’ long-term natural gas supply agreements to be concluded by 2050, when the EU promised to reduce its greenhouse gas emissions to zero.