Regulator says German gas storage may already be enough for winter

Germany's gas storage facilities should be sufficient to ensure supplies this winter despite comparatively low filling levels, the head of the Federal Network Agency has said.

Germany already had slightly more gas in storage than it withdrew over the entire previous winter period, Klaus Müller told dpa, adding that there was still time for further deposits in the coming weeks.

A little more than 136 terawatt hours of gas is currently stored, equivalent to just over 55% of total capacity. According to the regulator, just under 134 terawatt hours were withdrawn over the whole of last winter.

Storage levels are low compared with previous years, prompting concerns that the amount of gas currently stored may not be enough to last until spring.

The possibility of government-mandated purchases has also been discussed. While such measures are possible, they are likely to be expensive.

LNG terminals could provide additional supplies

Gas storage operators' association INES recently described the storage levels as "historically low" and called for rule changes to make storing gas financially worthwhile again.

However, comparisons with previous storage levels are complicated by the fact that Germany now has liquefied natural gas (LNG) terminals along its coast, allowing additional supplies to be imported relatively quickly from the global market.

Germany also continues to receive gas through pipelines, including from Norway.

Müller also pointed to the possibility of additional LNG imports.

"The LNG terminals currently have a utilization rate of around 45%. There is sufficient capacity to import additional gas," he said.

Like the German Economy Ministry, Müller currently sees no need for government intervention and is instead relying on the free market, he said.