Germany’s underground gas storage facilities were 61.03% full on November 1, according to data from Gas Infrastructure Europe (GIE). The EU-wide average stood at 74.62% on the same date, leaving Germany entering the heating season with unusually low reserves.
Storage operators’ association INES described the level as a record low and urged the government to review how storage sites are filled ahead of future winters, including whether suppliers should face binding obligations.
High prices and the impact of the war in Iran on energy markets made summer injections less economical, Reuters reported. Europe also faced competition from Asian buyers for limited liquefied natural gas (LNG) cargoes.
Germany’s energy regulator chief Klaus Mueller told Reuters that meeting storage targets was no longer essential on its own to guarantee security of supply, as LNG terminals could support imports. He warned, however, that gas had become considerably more expensive. The government does not expect supply bottlenecks. TotalEnergies CEO Patrick Pouyanné also said Europe was unlikely to face a physical gas shortage this winter, but would have to pay more to secure sufficient supplies.
Low storage levels do not automatically mean shortages or outages. But prolonged cold weather and continued competition for LNG could increase the cost of securing supplies.
