Wholesale prices for natural gas keep rising and rising. At the same time, the storage tanks in Germany are significantly less full than usual before the heating season.
(Photo: imago images / Future Image)
Dusseldorf Meat could become scarce in Great Britain, energy prices are going through the roof in Italy, and in Germany consumers even fear a “heatout” (failure of the heat supply). Just before winter, Europe’s natural gas storage facilities are dangerously empty.
Russel Hardy, head of the world’s largest oil trader Vitol, warned of an “extremely tense situation” at the international Gastech conference in Abu Dhabi. The memory must now be refilled. “Otherwise, in the next few months, production will no longer be able to meet the increased demand in a cold winter.”
The German natural gas storage companies are declining: “There is currently no threat to security of supply for the first half of winter,” says Sebastian Bleschke, chairman of the Natural Gas Storage Initiative (INES), at the Handelsblatt gas conference. A good 90 percent of all German gas storage companies are organized in the association. The Federal Ministry for Economic Affairs and Energy (BMWi) is also giving the all-clear for the time being: “The security of supply in Germany is still high,” said a spokeswoman in Berlin.
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