Federal Minister for Economic Affairs, Katherina Reiche (CDU), stated that the supply of natural gas is secure even for the coming winter. Speaking to the news magazine Focus, she mentioned that German gas storage facilities are filling up through normal market operations. These reserves are currently booked up to about 70 percent capacity, and she added that the deliveries are broadly diversified, ensuring the storage facilities will be adequately filled at the start of the next winter. Reiche concluded by saying she does not foresee any natural gas shortages in the foreseeable future.
However, the current fill level of Germany’s gas storage facilities is at a historically low point. At the beginning of the week, the reserves were only filled to just 23 percent, which is about 17 percent below the long-term average. Concerns about potential gas shortages had arisen, particularly due to the prolonged blockade of the Strait of Hormuz in the Persian Gulf.
The Federal Ministry for Economic Affairs is planning an instrument to guarantee supply security in the event of a crisis. Reiche stated that they are carefully examining which crisis tool is appropriate, emphasizing that it is crucial to distinguish between normal market dynamics and precautionary measures intended for extraordinary crises, such as acts of sabotage.