Germany reveals gas storage levels

The energy regulator says fuel reserves have been filled to planned capacity

Germany's natural gas storage facilities are over 80% full, having surpassed the mandatory level of 75% scheduled for September 1, the country’s Federal Network Agency said in a report published on Tuesday.

“Gas supplies to Germany are currently stable. Germany's energy security is guaranteed for the time being,” the report stated.

At the same time, the regulator pointed out that “the situation is tense, and further deterioration cannot be ruled out” as Nord Stream 1 pipeline gas flow is currently at about 20% of capacity.

“Companies and private consumers should brace themselves that gas prices will continue to rise seriously,” the report notes.

Berlin previously obliged gas operators to fill underground gas storage facilities while adhering to a strict schedule to ensure the country has enough gas to last through winter. The plan outlines that by October 1, storage must be 85% full, and 95% full by November 1. Experts doubt the goal is achievable as the heating season is fast approaching.

Find more stories on economy and finance in TROIB business