German companies prepare for possible gas supply problems. Storage levels are at a 15-year low

German industrial companies are beginning to take precautionary measures in case of problems with natural gas supplies during the coming winter. The main reasons are very low inventories in German storage facilities, high gas prices and uncertainty surrounding global LNG supplies. Although the German government and regulator do not yet expect a physical gas shortage, low storage levels reduce the safety buffer and make the market more sensitive to cold weather or import disruptions.

Concerns about gas shortages in the coming winter are spreading among German companies. These concerns primarily affect energy-intensive industry. Chemicals group Covestro confirmed to Handelsblatt that, as an industrial company, it sees a certain risk to gas supplies during the winter.

Tensions are meanwhile rising on gas markets. The price per MWh at the TTF trading hub, Europe’s benchmark, has risen to more than €80 for the following month. That is two and a half times higher than before the war in Iran and the highest level since the last major energy crisis.