Tuesday, November 29, 2022

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Gas storage level close to the 95% target for November

German gas storage tanks are constantly being filled and the total level is now 94.67%. However, some investments are still below value.

Germany is making progress in gas storage despite the loss of Russian supplies. According to data from European gas infrastructure operators (GIE) on the internet late Tuesday evening, the fill level increased by 0.23 percentage points to 94.67% in 24 hours.

According to a regulation of the Federal Ministry of Economy, the systems must be 95% full by 1 November. This value is now almost reached, at least on the whole. The amount of gas stored at this level roughly corresponds to national consumption in January and February 2022. However, the ordinance states that each storage facility must meet the 95% requirement. This is not yet the case: some plants are still below, others already above. According to Thuringian Energy Minister Anja Siegesmund (Verdi), the Thuringian underground storage facility in Allmenhausen is already 100% full. The UGS Wolfersberg near Munich, on the other hand, is only 85.93% full.

Full gas storage tanks are important for the German economy, authorities and households to receive sufficient energy in the next heating season. However, the gas reserves would be far from sufficient to cover the demand. Therefore, the Federal Network Agency repeatedly stresses the urgency of saving, both for companies and consumers.

Storage facilities compensate for fluctuations in gas consumption and thus constitute a sort of buffer system for the gas market. They are usually well filled when the heating season begins in the fall. Fill levels then decrease until spring. In the cold winter days of recent years, up to 60% of gas consumption in Germany was covered by domestic storage facilities.

The head of the International Energy Agency (IEA) sees possible problems in filling gas storage facilities in Europe before the winter months of next year. “Our estimates tell us that stock levels will drop from 90 percent to 25 to 20 percent by February 2023,” AIE chief Fatih Birol said in an interview with the Italian newspaper “La Repubblica”. The question is how Europe intends to fill the stands by up to 80-90 percent in 2023.

German gas storage tanks are constantly being filled and the total level is now 94.67%. However, some investments are still below value.

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