Germany Likely to Avoid Gas Shortage this Winter: INES

Natural gas storage inventories at capacity in Germany are likely to prevent a winter shortage according to German gas-storage organization INES.

• “For the upcoming winter, the complete filling means that only extremely cold temperatures under current conditions could lead to a gas shortage,” said Sebastian Heinermann in a statement.
• Gas in storage in Germany has reached 100.14% full on 5 November according to GIE data.
• The warm autumn and start to the winter have helped to ease supply concerns for this winter and enabled storage to fill and LNG volumes at sea to increase above normal. The total estimated quantity of LNG on tankers that have not unloaded for at least 20 days decreased by 12% over the last week but remain above the five year average following six consecutive weeks of increases.
• Imports of LNG increased recently with LNG deliveries to Europe and Turkey surging 20% last week to a five-month high of nearly 3.3bcm according to Kpler data. Deliveries of 3.1bcm of LNG are expected this week.
• German natural gas consumption in calendar week 16-22 October was 15.2% below the 2018-2021 average.