Germany Could Face Fast Gas Reserves Decline With Cold Winter: Bnetza

Germany’s gas reserves could quickly be emptied if Germany were to face a cold 2022/2023 period, Klaus Mueller, head of Bnetza, said to The Spiegel.

• "Just a few freezing cold days are enough for a dramatic increase in gas consumption," Klaus Mueller said.

• Germany’s network regulator previously asked consumers to cut gas consumption by at least 20%, if needed.

• German gas storage levels stood at 99.3% as of 2 November, data from AGSI show. Germany continues to inject gas into storage facilities, amid milder temperatures in the region.

• Earlier this year, Germany introduced new gas storage targets to reach 95% of storage capacity by 1 November, to ensure security of supply during the winter period amid lower gas imports from Russia.