Katrina Reich, the German Minister of Economy, announced plans to increase the country's gas storage in response to concerns about gas supply during the winter season. The aim of this plan is to encourage traders to store more gas as supply is under pressure due to multiple crises.
Increase in long-term purchase and sale contracts
A government source in Germany reported that the amount of gas allocated in the autumn tender for long-term purchase and sale contracts will be increased. Although the exact amount of this increase has not yet been specified, this action allows the European trading center, which is responsible for coordinating the German gas market, to guarantee gas deliveries from traders for potential future uses.
Agreement with energy companies
The German government has also reached an agreement with two state-owned energy companies, Uniper and SEFE, to fully utilize the storage capacity of these two companies. This agreement allows the government to have sufficient gas reserves in case of a crisis.
The German Ministry of Economy plans to make a decision on this matter by September 21 (30 Shahrivar). This action is part of Germany's overall strategy for managing the energy crisis and meeting seasonal needs.
Status of gas storage in Germany
According to data from the German Gas Storage Operators Association (INES), the storage level in the country's gas reservoirs was about 53 percent in early September. This figure is considered the lowest level for this time of year in the past 15 years. Additionally, the INES association has recently warned that severe cold in the winter could lead to a gas supply shortage as early as January.
This situation has significantly impacted the planning of the German government and clearly demonstrates the need for immediate and effective actions. Currently, Germany is striving to meet energy needs during the cold season using market incentives.
