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14 Oct 2022 | 08:32 UTC
Highlights
Storage target of 95% had been set for Nov 1
Full storage creates buffer against shortages: Muller
Gas savings key as Berlin intensifies campaign
Germany has reached its target of filling its gas storage sites to 95% of capacity ahead of schedule, with stocks standing at 95.1% of capacity as of Oct. 12, according to data published Oct. 14 by Gas Infrastructure Europe.
Germany set itself strict storage filling targets over the summer in order to improve supply security following Russian gas supply curtailments.
It required its facilities to be filled to 75% of capacity by Sept. 1, 85% by Oct. 1 and 95% by Nov. 1. That also went beyond the target set by the EU of 80% fullness by Nov. 1.
Klaus Muller, head of the German energy regulator Bundesnetzagentur, said full storage helped create a buffer against gas shortages this winter.
"Nevertheless, we absolutely have to save at least 20% gas, no matter how warm or cold the winter gets," Muller said on Twitter.
Full stocks across Europe have helped bring down gas prices in recent weeks from their late August record highs.
Platts, part of S&P Global Commodity Insights, assessed the Dutch TTF month-ahead price at an all-time high of Eur319.98/MWh Aug. 26. It was last assessed on Oct. 13 at Eur153.60/MWh.
Germany has been urging consumers -- both industrial and household -- to cut gas consumption to help keep stocks high through the winter.
On Oct. 13, the economy ministry said it was "significantly intensifying" its information and activation campaign on gas saving.
"Due to the artificial scarcity created by Russia, much less gas is available to the German and European markets. Gas is accordingly a scarce and expensive commodity," the ministry said.
Russia has halted gas supplies to much of Europe, with small volumes still flowing via Ukraine and TurkStream.
Germany has been badly affected, in particular after flows via Nord Stream were curtailed from mid-June and then halted altogether at the end of August.
German economy minister Robert Habeck said Oct. 13 that Berlin was "not intimidated" by Russia's actions.
"Thanks to good planning, our gas storage facilities are well filled and gas supplies from neighboring countries have been increased," Habeck said.
He added that Germany was building LNG import infrastructure "at record speed" and the necessary gas supplies had been secured.
But, he said: "Consumption must also fall compared to previous years because gas is a scarce commodity and it is important to handle it carefully."
"All areas are in demand here: the economy, the public sector and also private households. Quite a few are already saving. Companies, municipalities and most people are ready to act," Habeck said.
"However, our campaign should once again encourage, inform and be an incentive. Every contribution counts so that we can get through the winter well together."