Germany wants the European Union to ease gas storage requirements

Germany wants the European Union to ease its gas storage requirements, citing concerns about high costs. The German Ministry for Economic Affairs and Climate Action said this today, according to Reuters.

The EU has ruled that all member states must have their gas storage facilities 90 percent full by November. Interim targets also apply for February, May, July and September. The measure was introduced in response to disruptions to gas supplies from Russia caused by its war against Ukraine.

Berlin is making its request at a time when gas prices are rising. The price of gas on the European market climbed to a two-year high this week.

„We support less stringent storage requirements,“ said a spokesperson for the German ministry. „Greater flexibility could ease the pressure to keep all gas storage facilities filled evenly and help market conditions return to normal,“ the spokesperson added.

Germany has the largest storage facilities in the EU. According to Reuters sources, other countries also voiced concerns today at a meeting in Brussels involving EU countries and the European Commission. They said the EU targets distort the market by signalling that European buyers are obliged to purchase gas, pushing prices up.

According to data from Gas Infrastructure Europe, EU storage facilities are less than half full this week. Cold weather and reduced Russian supplies have led to faster withdrawals.

Gas reserves are significantly lower than a year ago in Czechia too, according to data from the Ministry of Industry and Trade (MPO). As of today, domestic storage facilities were 40 percent full, holding 1,395 billion cubic metres of gas. At the same time last year, they were 70 percent full.

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