Foreign
GERMANY’S gas storage facilities reached more than 80 per cent of their capacity over the weekend, according to data published on Tuesday by European gas storage operators.
Data from the Aggregated Gas Storage Inventory, which was published with a delay, showed the level at 80.14 per cent of capacity on Sunday morning.
The latest German target stipulates that storage facilities should be filled to at least 85 per cent by Oct. 1, and to at least 95 per cent by Nov. 1.
The target of 75 per cent for Sept. 1, was reached more than two weeks ahead of time.
Torsten Frank, chief executive of Trading Hub Europe (THE), predicted that while the overall target would be reached, there would be regional differences.
“We will be able to fill many storage facilities to 95 per cent by November, but not all,’’ he told Tuesday’s Rheinische Post newspaper.
While there would be no overall shortage in Germany, regional shortages could not be ruled out, he said.
These would not impact households, Frank said.
`We are making good progress with storage and cutting consumption.
“I am extremely confident that private homes will not have to freeze this winter.’’
On Friday, Russia’s Gazprom announced that supplies through the key Nord Stream 1 pipeline running under the Baltic Sea would be halted for maintenance work for three days from Aug. 31.
Once the work had been completed, 33 million cubic metres of gas daily would again be pumped, equivalent to 20 per cent of capacity, Gazprom said. (dpa/NAN)
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Tags: Torsten Frank Trading Hub Europe
