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Germany Starts Heating Season With Low Gas Stocks as INES Flags Potential January Shortfalls

INES faults missing fill incentives for a roughly 75 percent start, raising the question of whether imports alone could bridge an extreme cold spell.

Overview

  • German gas storages are about 75 percent full at the outset of the 2025/26 heating season, which is lower than recent years and behind other EU countries.
  • In a cold-weather scenario comparable to 2010, INES projects storages could be emptied by mid-January 2026, risking supply shortages.
  • Under warm or average winter conditions, INES says the legal minimum of 30 percent on February 1, 2026 would still be achievable.
  • INES criticizes the government for not using promised measures to secure higher fills, while the Bundesnetzagentur says EU target levels were met on November 1 and points to pipeline and LNG imports to safeguard supply.
  • INES represents operators covering over 90 percent of German storage capacity, it had expected roughly 81 percent by November, and consumers are being urged to curb gas use as a precaution.