The process of filling natural gas storage tanks is progressing faster than expected, despite the reduced volume delivered by Russia.
According to the magazine Der Spiegel, the occupancy level reached 81.78% on Thursday, while at the end of the week it is expected to have reached 82.2%. “Reservoirs are filling up earlier than planned,” Economy Minister Robert Hambeck told the magazine, while a ministry spokesman noted that the 85% target by October would likely be reached as early as early September. By November 1st, occupancy should be over 95%.
Gazprom announced a few days ago that it will shut down the Nord Stream 1 pipeline for maintenance from August 31 to September 2. When the pipeline is back in operation, 33 million cubic meters of natural gas will be delivered daily, a quantity that corresponds to 20% of the pipeline’s capacity.
However, Germany currently has the largest natural gas storage capacity in central and western Europe. According to the association of natural gas providers Ines, the storage capacity reaches ¼ of the country’s annual consumption. The government has repeatedly stated that with 100% full tanks, Germany has enough for about 2.5 winter months.
Source: News Beast
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.