German Gas Storage Targets Hard To Reach: INES

Germany’s natural gas storage targets will be difficult to meet next winter even in a scenario where temperatures are normal, the country’s association of gas storage system operators, INES, warned.

• Germany aims to replenish gas storage reserves by 75% on 1 Sep, by 85% on 1 Oct and by 95% on 1 Nov and by 40% on 1 February 2024.
• While Europe’s largest economy reduced gas consumption by about 14% this winter, that cut in usage may not be enough to make it through the next cold season, INES said.
• “In a worst-case scenario, storage sites could be completely depleted by January 2024 even if the current low demand patterns persist.Even with average temperatures, it will be challenging for the country to meet its national target of a 40% storage level by 1 Feb”, INES added.
• Germany has ramped up infrastructure to import LNG and expects to have six floating storage and regasification units open by next year. Additional gas facilities that can be activated on short notice could be helpful, INES Managing Director Sebastian Bleschke said.
• “Security of gas supply has not yet been restored in Germany,” he added.