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Wednesday, March 29, 2023

Energy: German gas storage tanks are 89.3 percent full

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It has gotten colder in Germany – the levels in the gas storage tanks are falling accordingly. Reason to worry?

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The currently colder temperatures are causing filling levels in German gas storage facilities to fall again. For the second day in a row, they fell by more than half a percentage point, according to preliminary data from the European gas storage association GIE on Thursday.

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On Wednesday morning, the level was 89.3 percent. The largest German storage facility in Rehden, Lower Saxony, recently recorded a filling level of 90.3 percent. Across the EU, the filling level was 80.6 percent, almost 0.5 percentage points less than the previous day.

The fill levels have been declining since January 9th. Before that, the balance had been stored for more than two weeks – which is atypical for the time of year.

The storage facilities compensate for fluctuations in gas consumption and thus form a buffer system for the market. The filling levels usually decrease after the start of the heating period in autumn. On the morning of November 14, a fill level of 100 percent was recorded. On February 1, according to the Energy Industry Act, the storage tanks should still be 40 percent full.

It should be noted that gas continues to flow permanently through pipeline imports to Germany, according to the Federal Network Agency on Tuesday from Norway, the Netherlands, Belgium, France and Denmark. Germany now also receives natural gas via the new LNG terminals in Wilhelmshaven and Lubmin.

Source: Stern

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