Germany risks gas shortages in the event of a severe winter due to low levels of underground storage facilities (UGS), NZZ reports, citing a warning from industry association INES.
According to Gas Infrastructure Europe data, by November 1, German UGS facilities were only 59-61% full (compared to 74.9% the year before). This is 9 percentage points below the 70% target set by the country's Ministry of Economy. German gas storage facilities were emptier than ever at the start of the heating season.
According to new calculations by INES, during extreme cold, the monthly gas shortage in the first quarter of 2027 may reach 6.6 TWh, equivalent to a day and a half of winter consumption in all of Germany, warned the association's CEO, Sebastian Heinermann.
To reduce risks, market operator ETC is buying long-term options, and the German government has ordered state-owned utility SEFE to purchase an additional 8 TWh of gas by mid-December.