Germany risks facing gas shortages in the event of a severe winter due to low levels of occupancy of underground storage facilities (UGS), NZZ writes, citing a warning from industry association INES.
According to Gas Infrastructure Europe data, by November 1, German underground gas storage facilities were only 59-61% full (compared to 74.9% a year earlier). It's up to 9 p.p. Below the 70% target set by the decree of the Ministry of Economy of the country. German gas storage facilities were emptier than ever at the start of the heating season.
According to new calculations by INES, with extreme cold, the monthly gas shortage in the first quarter of 2027 may reach 6.6 TWh, which is equivalent to a day and a half of winter consumption in the whole of Germany, warned the association's CEO Sebastian Heinermann.
To reduce risks, the market operator ETC buys long-term options, and the German government obliged the government enterprise SEFE to purchase an additional 8 TWh of gas by mid-December.