Germany Needs To Reduce Gas Consumption To Ensure Winter Gas Stability

Germany will need to continue to reduce its gas consumption as well as stable LNG inflows to ensure stable gas supplies next winter, even with gas inventories at 100% of capacity the beginning of the heating season, Head of Bnetza, Klaus Mueller said.

• “Germany – and I think Europe too – has every chance of getting through the next winter well,” Mueller said.
• “All the same, even if we go into next winter with gas storage tanks 100% full – which I expect – that alone would not suffice. We need stable inflows, we need a degree of thrift and we also need a bit of luck," he added.
• Germany curbed its gas demand by around 11bcm, or 125TWh, last year, Bnetza data showed. This is equivalent to around 20% of the gas Germany used to receive from Russia via the Nord Steam pipeline.
• Germany’s newfound dependence on LNG – the government is targeting 37bcm of import capacity from next year, up from nothing at the start of last year – would expose it to more volatility, at least in the short-term, Mueller said.
• German gas storage reserves stood at 74.42% of capacity as of 29 May, AGSI data showed.
• Latest Bnetza gas consumption data showed, German gas demand in calendar week 20 stood 27.4% below the 2018-21 average.