Germany gas storage levels fall to 57 percent

Germany is entering the autumn with unusually low natural gas reserves, with storage levels currently at approximately 57 percent. This figure is significantly lower than the average of 27 percentage points higher seen during the 2017–2021 period. The current level also falls below the European average of roughly 70 percent.

Despite the lower levels, the Federal Network Agency maintains that gas supply remains stable and security of supply is guaranteed. Germany has diversified its energy sources, utilizing increased imports from Norway, the Netherlands, Belgium, and LNG terminals to compensate for the cessation of Russian gas deliveries.

While volume is a concern, market prices have also become a factor. Natural gas prices have approximately doubled since the beginning of the year due to strained international energy markets. There are also concerns that competition with Asian markets could drive LNG prices higher during the winter months.