Germany's gas reserves at 61.5%

Germany's gas reserves stood at 61.5% as of November 1, according to the European platform Aggregated Gas Storage Inventory (AGSI). This is significantly below the regulatory target of 70% and the European Union's average level of nearly 75%.

Government assures winter supply security

The German government has stated that the country's gas supply remains secured for the upcoming winter, despite the lower storage levels. This claim is contested by the German gas storage organization (INES), which represents over 90% of German capacity.

INES challenges government's stance

INES stated that the government's filling targets "have not been achieved," which it considers "a clear signal of the need to strengthen winter preparedness measures." The organization argues that the current levels indicate a need for additional preparedness.

Government highlights LNG terminals

A spokesperson for the German Ministry of Economy told AFP that Germany "should get through the winter in good conditions." This view is shared by the European Commission and the Federal Network Agency. The government points to liquefied natural gas (LNG) terminals as a way to secure supplies.

New terminals to boost capacity

New LNG terminals in Wilhelmshaven and Stade, northern Germany, are expected to open in 2025. These terminals are anticipated to increase Germany's gas supply capacity, helping to mitigate risks from geopolitical tensions.

SEFE's role in gas storage

Most German storage facilities show a filling rate above 70%, but the low levels of some sites, such as those of SEFE, have affected the national average. SEFE, the former German subsidiary of Gazprom, was nationalized in 2022.

Government pushes for more gas storage

Minister of Economy Katherina Reiche had tasked SEFE with purchasing and storing an additional 8 TWh of gas by December 15 to strengthen supply security against "geopolitical risks." However, the effects of this measure are not yet fully visible in the current levels of reserves.

INES calls for mandatory stockpiling

INES has advocated for a requirement imposed on suppliers to build sufficient stocks before winter. The ministry has said it is open to this path, though no formal measures have been announced yet.

European gas prices rise sharply

The European gas price exceeded 100 euros per megawatt-hour for the first time in four years on Wednesday. This increase is driven by the war in the Middle East and lower stock levels compared to last year as winter approaches.