Ready for Winter: German Gas Reservoirs at 100% Capacity
On Sunday morning, the German gas storage facilities reached a 100% fill level. The European Gas Storage Association (GIE) reported that the exact fill level stood at 100.03%. According to preliminary data from the federal government, this level of fill corresponds to gas consumption over two to three average cold months of winter, as reported by Spiegel.
Klaus Müller, President of the Federal Network Agency, expressed confidence that the country is much better prepared for winter than the previous year. "Gas storage at 100% is very good news," Müller noted. However, he also emphasized that it is too early to speak of a trouble-free winter and encouraged citizens to carefully consider their gas consumption if they wish to save money.
Germany's gas storage system is used to compensate for fluctuations in gas consumption, creating a buffer for the gas market. Typically, storage levels decrease in winter when gas demand significantly increases. Reserves are usually replenished after the heating season. However, in 2021, this system did not function properly, and the fill level remained lower than usual.
It's worth noting that gas storage facilities in other EU countries are also nearly filled. According to GIE data, this figure is close to 99.6%.
It's important to mention that from January to September 2023, the import of Russian liquefied natural gas (LNG) to Europe remained at a similar level to the previous year. However, some countries saw a noticeable increase in imports. For example, Spain and Belgium doubled their LNG imports from Russia, while in France, imports increased by 40%.
European Commissioner for Energy, Kadri Simson, urged EU countries in the spring to refrain from entering into new long-term contracts for Russian LNG supply after the expiration of current agreements.
As a reminder, in late October, it was announced that Ukraine does not plan to renew the contract for the transit of Russian gas through its territory to the EU after it expires at the end of 2024. Russia has not fully complied with its obligations under this contract, paying "no more than 70%" of the owed amount, so Ukraine is ready to "terminate the existing contract with Gazprom prematurely at any moment."