Germany Orders SEFE to Boost Gas Stocks Amid Winter Heating Season Concerns
Germany's state-owned gas importer SEFE has been instructed by the Ministry for Economic Affairs to increase its natural gas stocks by eight terawatt-hours (TWh) by December 15. This decision was made in response to concerns about low stock levels ahead of the winter heating season, with Germany's storage facilities currently at around 57% capacity.
The current stock levels are lower than the European Union average, which is approximately 71%. The government has taken a direct approach by instructing SEFE, its owner, to increase gas stocks, rather than relying on market incentives. This move comes amid global conflicts and increased energy costs, as well as disruptions to supplies from the Middle East.
SEFE operates across the entire value chain, buying and trading gas, supplying it to customers, transporting, and storing it. The company has more than 50,000 customers, around 2,000 employees, and sells approximately 200 TWh of gas and electricity per year.
The EU's total storage capacity is about 1,132 TWh, with a current volume of around 807 TWh. This represents a decrease from last year, when storage facilities were at around 82% capacity, compared to the five-year seasonal average of approximately 87%