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[BUSINESS] · Germany · 67 sources

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Germany gas storage levels hit historic low for this time of year

German natural gas storage levels have reached a historic low for this time of year, currently sitting at approximately 49 to 50 percent. This is a significant decrease compared to the 67 percent recorded during the same period last year. Industry experts from the Initiative Energien Speichern (INES) warn that even if all currently booked storage capacities—which account for 78 percent of total capacity—are filled by winter, the volume may still be insufficient to guarantee supply during periods of extreme cold.

Economic factors are contributing to the slow replenishment. High procurement costs, driven in part by geopolitical tensions in the Middle East and disruptions near the Strait of Hormuz, often exceed the expected selling prices for the winter, reducing the financial incentive for traders to stock up early.

Despite these low levels, the German Ministry of Economic Affairs has stated that a gas shortage is not expected this winter, noting that supply security depends on more than just storage levels, including imports from Norway, LNG terminals, and neighboring European countries. However, energy economists like Claudia Kemfert have called for more binding storage requirements and the establishment of a strategic reserve to mitigate risks associated with potential supply disruptions or extreme weather.

Entities

Austria · BSW-Solar · Bundesnetzagentur · Bundestag · Bundesverband Solarwirtschaft · Bundeswirtschaftsministerium · Carsten Körnig · Claudia Kemfert · Federal Ministry for Economic Affairs · German Federal Ministry for Economic Affairs · German Ministry of Economic Affairs · Germany

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