Overview
- Inventories are about seven percentage points below pre‑Ukraine‑war averages, with injections continuing and INES projecting roughly 81% by November 1 as sufficient for normal to warm conditions.
- The economy ministry lowered the statutory November 1 storage target from 90% to 80% in May.
- INES warns scenario modeling shows storages could be emptied by the end of January in an exceptionally cold winter, a situation not seen in the Federal Republic to date.
- The Federal Network Agency says storage levels alone do not determine supply security and cites four North Sea LNG terminals and import routes from France, Belgium, and the Netherlands.
- Lower fills are attributed to a colder prior winter, higher industrial demand, and price dynamics that dampened summer injections, with the state retaining authority to force purchases or buy gas itself if shortages emerge.