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German gas stocks are being replenished faster than expected

severe electricity crisis


Gas storage facility in Etterfeld, Hesse, Germany. File photo: Michael Probst/AP/TT

Economy (TT-AFP)

Germany is replenishing its gas reserves at a faster than expected rate, despite a significant reduction in gas supplies from Russia.

The Ministry of Economic Affairs stated that “the goal of storing 85 percent of gas in October should already be achieved at the beginning of September.”

In July, Berlin set a goal of filling gas storages to 95 percent of their capacity by November.

Europe’s largest economy, which relies heavily on Russian gas, scrambled to fill its gas reserves before winter. The government says energy-saving measures and extensive purchases of gas from other suppliers have led to “significant progress”.

Among other things, Germany signed agreements on increasing LNG imports from Qatar and the USA, and planned to build five new LNG terminals.

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