The first gas storage target under the new EU regulation was reached more than two weeks early: Despite a significantly reduced volume of deliveries from Russia for weeks, German gas storage facilities are again more than 75 percent full %, according to Spiegel. According to preliminary data from European gas storage managers on Saturday night, the fill level was 75.43% on Friday morning. The fill level is always reported with a delay.
The regulation states that German storage facilities must be at least 75% full on 1 September. On October 1st it should be at least 85% and on November 1st at least 95%. Storage facilities compensate for fluctuations in natural gas consumption and are thus a kind of regulatory system for the natural gas market. If storage continues at the same rate as before, 85% should be reached before October 1st.
The federal government wants to use various measures to ensure that Germany’s natural gas storage facilities are nearly full at the start of the heating season. In this way, Germany should be better prepared in the event of a total loss of Russian supplies in the winter. The stored amount of natural gas at the 95% level roughly corresponds to the national consumption in January and February 2022.
According to storage association Ines, today’s high storage levels are made possible mainly by low summer consumption and strong imports from north-west Europe.
Source: Capital
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