Gas storage level in Germany reaches 73.7% of 1st target

The filling level of the German gas storage facilities for winter has almost reached the first target of 75%, in spite of reduced flows from Russia, reported dpa.

On Tuesday, the fill level was 73.7%, the European gas storage operators revealed on Thursday. The value was 0.55 percentage points above the previous day's value.

Since Friday, the level has been rising by more than 0.5 percentage points every day despite the significantly reduced supply volumes from Russia.

The level is always reported with a lag of two days.

A new regulation stipulates that German storage facilities must be at least 75% full on September 1. On October 1, it is to be at least 85% and on November 1 at least 95%.

The largest German storage facility in Rehden, Lower Saxony, was 51.5% full on Tuesday.

The storage facilities compensate for fluctuations in gas consumption and thus form a kind of buffer system for the gas market.

In the past, up to 60% of gas consumption in Germany was covered by German storage facilities on cold winter days.

According to the industry association INES, there are around 40 gas storage sites in Germany.