Europe's Gas Reserves in Danger as Germany Refuses to Act

Europe's natural gas reserves are running low, and Germany is the continent's biggest concern. The country's gas shortage could have far-reaching consequences for neighboring countries and the entire European Union. Politico reports that Germany's storage levels are historically low at this time of year.

The EU has set targets to prevent serious supply shortages, requiring member countries to reach 90 percent of their national capacity by winter. However, since Russia's invasion of Ukraine in 2022, the target was lowered to 80 percent after the war in Iran began.

Despite this, Germany is refusing to order its state-owned energy giants to buy gas at any price, sticking to its free-market doctrine in energy policy. This has sparked growing concerns that the country's gas shortage could be felt throughout the EU, leading to rising prices and potential supply shortages.