The industry association INES has called for Germany’s gas storage system to be reviewed and improved after stocks fell to an alarming level before the start of winter. Gas storage in Europe’s largest economy is now at a record low.
As of Friday, Germany’s gas storage facilities were 61.35 percent full, against a government target of 80 percent by the start of November. This has raised fears of supply problems over the winter, although the German government says there will be no shortage of gas in the country.
“The failure to meet the gas storage targets shows that stricter measures are needed to ensure enough gas is stored for the coming winters,” Sebastian Heinermann, managing director of INES, said in a statement.
“The federal economy ministry’s positive position on imposing mandatory storage requirements on gas suppliers is appropriate and important,” he said.
The war between Iran and the United States and Israel, and the resulting rise in international gas prices, are blamed as one of the main reasons for the fall in stocks. Higher prices made it costly and difficult to buy gas over the summer to fill underground storage.
The European Union (EU) has also banned imports of natural gas from Russia over its military operation in Ukraine. Taken together, uncertainty over energy supply and higher prices are adding to concern about Germany’s gas stocks.
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