Gas storage facilities in Germany fill up faster than expected: minister

Gas storage facilities in Germany fill up faster than expected: minister

Germany’s gas storage facilities are filling up faster than expected, Economy Minister Robert Habeck said, raising hopes that Europe’s biggest economy can avoid a severe gas shortage this winter.

“Depots are filling up faster than expected,” Habeck was quoted as saying by Der Spiegel magazine, adding that the government’s target of reaching 85% of storage capacity by October could be reached as early as September.

Germany is in the second phase of an emergency plan of three formulated after the reduction of gas flows from Russia, its main supplier.

In August, only 9.5% of Germany’s gas consumption came from Russia, Spiegel reported, citing data from the electricity industry association BDEW. Last year, Russian gas accounted for about 55% of the country’s total consumption.

The government had set a target of a gas storage level of 75% by September 1, but storage levels are already at 82.2%, sector data from European operators group GIE showed on Sunday.

“Companies will then be able to withdraw gas from storage facilities as planned during the winter to supply industry and households as well,” Habeck said.

Liquefied natural gas (LNG) is also expected to flow to Germany via France, after both countries resolve organizational and technical issues to facilitate supply, Spiegel reported, citing an Economy Ministry document.

Melissa Galbraith
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