Germany Orders SEFE to Add 8 TWh of Gas to Storage
The 8 TWh order is meant to bolster low reserves and signal other companies as Europe heads into winter with weak inventories.
- On Wednesday, Economy Minister Katherina Reiche, in coordination with Chancellor Friedrich Merz, ordered Securing Energy for Europe to procure and store 8 TWh of gas by December 15.
- Germany's storage facilities are about 58% full, unusually low for this time of year, as Europe heads into winter with its lowest inventories in years.
- While the 8 TWh volume represents less than 1% of Germany's annual consumption, the ministry noted the move aims to signal other market participants to fulfill their own winter storage obligations.
- European gas prices have more than doubled this year after conflict in Iran disrupted a major LNG supply route through the Strait of Hormuz, forcing nations to rebuild depleted reserves.
- Minister Reiche previously relied on market incentives to shore up gas storage, but escalating geopolitical risks forced this direct state intervention, marking a departure from her past approach.
26 Articles
26 Articles
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Westfalenpost
The Minister for Economic Affairs responds to concerns about security of supply and instructs SEFE to buy gas – at least a bit.
The Minister for Economic Affairs responds to concerns about security of supply and instructs SEFE to buy gas – at least a bit.
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The Minister for Economic Affairs is concerned about a safe supply of gas next winter. Now there are concrete instructions for a nationalized company.
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