Müller Downplays Gas Storage Concerns Ahead of Winter

Germany's Federal Network Agency chief Klaus Müller has downplayed concerns over low gas storage levels ahead of winter, stating that current supplies should be sufficient despite the historically low filling rates.

Müller pointed out that Germany already had slightly more gas in storage than it withdrew during last winter, and there is still time for further deposits before the season begins. The current storage levels stand at just over 136 terawatt hours of gas, equivalent to around 55% of total capacity.

However, comparisons with previous years are complicated by the fact that Germany now has liquefied natural gas (LNG) terminals along its coast, allowing for additional supplies to be imported relatively quickly from the global market. Müller noted that LNG terminals have a utilization rate of around 45%, indicating sufficient capacity for extra imports.

The regulator remains cautious but sees no need for government intervention at this point. 'The LNG terminals currently have a utilization rate of around 45%. There is sufficient capacity to import additional gas,' Müller said, echoing the views of the German Economy Ministry.