Germany Gas Stocks At Record Low

By Staff, Agencies

Gas storage levels in Germany have hit a historic low for this time of year due to rapid depletion amid a cold snap. Experts warn that stocks could run out before the heating season ends if withdrawals continue at the current pace.

Gas levels at the country’s underground storage facilities are now around 50%, compared to 77% a year ago. Data shows levels have dropped roughly 13% over the past four weeks.

If the current depletion rate continues, storages could be just 5% full by March. One energy supplier noted that the current situation is as bad as at the beginning of 2022, one of the lowest points in German energy reserve history.

Industry specialists attribute the rapid withdrawals to colder-than-normal weather in late December, which drove heating demand above typical January levels. Officials emphasized that gas storage levels are significantly below the long-term average.

Germany has become more reliant on costlier LNG imports via sea terminals, which experts say can only cover around 16% of demand from November to March. Authorities have called for stronger government action, including creating a national gas reserve, to secure supplies.

Across the EU, withdrawals this season are proceeding faster than usual, raising warnings of potential shortages as storage levels fall further. Germany, once heavily dependent on Russian energy, has sharply reduced imports since 2022, when Russia supplied over half of its gas.