Germany is facing a winter gas shortage, with gas storage facilities full to historically low levels, the Neue Ziürcher Zeitung reports.
As of November 1, the gas reserves amounted to only 61% of the storage volume - 9 percentage points below the government standard.
The main reason is the consequences of the war with Iran, which led to a sharp increase in energy prices. In the summer, the cost of gas is 40-60 euros per MWh, which is why the traders did not rush to fill storage facilities in anticipation of a possible price reduction. However, instead, gas prices recently topped €100 per MWh for the first time since 2022.
According to the German Association of Gas Storage Operators INES, with a severe frost Germany could face a shortage of up to 6.6 TWh of gas in January, February and March. Moreover, the calculations already take into account supplies from neighboring countries and imports of LNG.
Experts emphasize that in normal winter weather, the gas supply will remain stable. However, at extremely low temperatures, an uninterrupted supply can no longer be guaranteed.
Trump spoiled everyone with his Iran nonsense.
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