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German Manufacturing Firms Cut Back On Gas But Reach Limit

NATURAL GAS

German companies in the manufacturing sector will no longer be able to avoid production cuts if companies need to further reduce gas consumption, according to an Ifo Institute survey.

  • Around 75% of gas-using manufacturing companies have been cutting back on gas demand in recent month. But only a small number of those companies said they could further reduce gas consumption while keeping the production at the same level.
  • "The potential for further savings without a drop in production seems to be running out", said Karen Pittel, director of the Ifo Center for Energy, Climate, and Resources.
  • German natural gas reserves just last week started net gas withdrawal and storages stood at 99.55% of capacity on 20 November.
  • German industrial gas consumption in October averaged 1.13TWh, compared with 1.45GWh a year earlier.
Energy BulletsCommodities
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