Germany did not have time to accumulate planned gas reserves for the winter. Bloomberg. As the publication notes, as of Friday, German storage facilities were only 61.17% full, with a target of about 70% by November 1. The German Ministry of Economy has admitted that the country will not achieve the target, despite additional purchases through the government company SEFE. Against this background, cold weather is coming to Germany: in Berlin, Frankfurt and Munich, temperatures are expected to be 2-4 degrees below normal. Calm and cloudy weather can also reduce the output of wind and solar power plants, increasing the load on gas power. Fuel prices in Europe have already tripled in a year due to the war with Iran, the publication said. Last week, futures exceeded €100 per megawatt-hour for the first time since the 2022 energy crisis. "Entering this winter with record low inventories, Europe finds itself extremely vulnerable to instability in the global LNG market. It will have to compete directly with Asian giants like China and Japan for U.S. shipments that can be diverted between markets," said Aurora Energy Research analyst Annis Ganbold.

Germany did not have time to accumulate planned gas reserves for the winter. Bloomberg. As the publication notes, as of Friday, German storage facilities were only 61.17% full, with a target of about 70% by November 1. The German Ministry of Economy has admitted that the country will not achieve the target, despite additional purchases through the government company SEFE. Against this background, cold weather is coming to Germany: in Berlin, Frankfurt and Munich, temperatures are expected to be 2-4 degrees below normal. Calm and cloudy weather can also reduce the output of wind and solar power plants, increasing the load on gas power. Fuel prices in Europe have already tripled in a year due to the war with Iran, the publication said. Last week, futures exceeded €100 per megawatt-hour for the first time since the 2022 energy crisis. "Entering this winter with record low inventories, Europe finds itself extremely vulnerable to instability in the global LNG market. It will have to compete directly with Asian giants like China and Japan for U.S. shipments that can be diverted between markets," said Aurora Energy Research analyst Annis Ganbold.