Germany's Worries of Gas Shortages this Winter Slowly Fade as Storage Facilities are Filling up Faster than Expected
Levels of storage are currently at 82.2% which crushes the estimate/goal of 75% by September...
Robert Habeck, the German Economy Minister, claims that the German gas storage facilities are filling up at a pace that is faster than expected. The news has given confidence to multiple experts due to the recent worries that Germany would run into gas shortages this winter.
Habeck said that the government’s goal of 85% storage capacity can be reached within the next two weeks. The original timeframe for the accomplishment of this capacity was set for October. "The reservoirs are filling up faster than specified," Robert Habeck added.
Currently, the German government is in the second stage of an emergency plan to increase the supply of domestic oil after reducing gas flows from Russia in response to their invasion of Ukraine. In August, it was reported that less than 10% of German gas consumption came from Russia. Last year, 55% of the total consumption in Germany was from Russia.
Levels of storage are currently at 82.2% which crushes the estimate/goal of 75% by September. Robert Habeck said, "Companies will then be able to withdraw gas from the storage facilities as planned over the winter to also supply industry and households.”