Germany's Gas Storage at 57%, but VNG Says Winter Supply Is Covered
Germany's gas storage sites are only 57% full heading into winter, but despite concerns about supply security, the country's largest gas importer, VNG, says it has a robust system in place to meet demand.
VNG CEO Ulf Heitmueller told Reuters that thanks to diversified import capabilities, Germany doesn't face a gas supply shortage. The company imports natural gas from Norway and has recently signed deals to import gas from Azerbaijan and Algeria, which have become key sources of gas to Europe.
Heitmueller noted that VNG's portfolio is set up in such a way that it can meet its delivery obligations even in the event of a cold winter. The company started procuring gas from Algeria in 2024 and signed a new agreement with Algeria's state energy firm Sonatrach to receive additional volumes as of 2027.