German gas storage levels can be fully filled before winter, shortage risk remains – operator

Germany is likely to reach its gas storage target levels early, but a shortage risk for the coming winter remains if average temperatures drop significantly, gas storage operator INES said in a press release. Its latest modelling shows that currently moderate to low liquefied natural gas (LNG) imports to Europe will still be sufficient to reach the required fill quota of 95 percent by November. “However, we must not be misguided: even if the gas storage facilities are completely refilled, there is still a risk of gas shortages in winter when temperatures are cold,” INES head Sebastian Bleschke said. If the 2023/24 winter sees mild temperatures, storage facilities would only be used moderately. However, cold temperatures could significantly empty the storage facilities and meeting the legal fill level target of 40 percent by February 2024 would become challenging, INES warned. Gas storage facilities are currently filled up to 76 percent and market prices still deliver signals to save gas, according to the operator.

Households and industrial customers in Germany significantly reduced their energy consumption in the winter 2022/2023, helping to avert a much-feared supply shortage during the energy crisis driven by Russia’s war on Ukraine. While Germany quickly found new sources for natural gas after imports from Russia fell away, and efficiency and saving measures further contributed to avoiding a shortage, comparatively mild weather in early 2023 was a decisive factor in why the country’s energy security was not compromised during the previous winter.