Germany is considering creating a strategic gas reserve to protect against potential energy crises. The new mechanism is planned to be introduced before the start of the next heating season. This was stated by the Minister of Economy and Energy Kateryna Reiche, DW reports, writes UNN.
Details
According to the official, the government is studying various options for forming gas reserves "as soon as possible" and is awaiting expert conclusions.
We need both a market-organized gas storage business and a tool for emergencies caused by external shocks.
She added that she is conducting an "intensive dialogue" with market operators to avoid distortions and not harm the energy system.
Low reserves and high prices
Currently, Germany's gas storage facilities are only about 22% full, which causes concern ahead of winter.
The situation is complicated by rising energy prices amid the conflict in the Middle East, which means companies have less incentive to pump gas into storage facilities in the summer.
European requirements
According to EU rules, countries must ensure that gas storage facilities are filled to at least 80% by November 1, and the overall benchmark is about 90% before the start of the heating season.
These norms were introduced after the start of Russia's full-scale war against Ukraine and will be in effect until at least 2027.
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