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Germany Working on 15bn Euro Gas Credit Line

NATURAL GAS

Germany will provide an additional 15 billion euros in credit lines to purchase gas to refill domestic storage, news agency dpa reported on Sunday.

  • The credit line plan has been run past Germany’s finance minister and will be passed to the budget committee in the coming week according to dpa.
  • The credit line is designed to help Germany fill domestic supplies faster ahead of next winter with targets of 80% storage by October and 90% by November.
  • The Nord Stream 1 pipeline is only running at 40% capacity which Gazprom claim is due to repairs, putting further pressure on German gas storage filling rates.

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