Germany's Gas Storage Filling Falls Behind Schedule
Germany's gas storage facilities are struggling to meet their target of being 70% full by November, according to the managing director of the gas-storage association INES. Sebastian Heinermann warned that if current injection rates continue, Germany will not meet its statutory storage filling requirements.
The country's storage levels were approximately 51.5% full on August 25, compared with around 69% a year earlier. High market prices have slowed down the refilling of German storage facilities, making it less commercially attractive for companies to buy and store large quantities of gas.
Uniper confirmed that market conditions are holding back injections, saying that storage spreads have improved but not enough to make additional storage injections economically viable. However, RWE Gas Storage West and SEFE said they expected the target to be met based on current injection rates.
The German Economy Ministry stated that a gas shortage is not expected this coming winter, citing available imports from Norway, LNG terminals, and neighboring countries. But Heinermann warned that low storage levels could become a problem in severe weather, leading to potential economic damage.