Overall, the German gas storage facilities continue to post slightly increasing fill levels. According to data from the European gas storage association GIE on Thursday, the storage facilities were 88.84 percent full by the end of Tuesday – an increase of 0.22 percentage points on the previous day and the seventh increase in a row.
The main reason is probably still the comparatively mild weather. Because this reduces consumption and at the same time imports continue, gas traders ultimately store more gas than is withdrawn. Most recently, the temperatures were significantly higher than in the middle of the month, when there was permafrost in large parts of Germany. In addition, it has recently been possible to generate significantly more energy from wind power, which means that less gas is required to generate electricity.
Germany’s gas consumption is mainly covered by imports. The mild temperatures were also a major reason why the price of European natural gas has recently fallen for several trading days in a row. Despite the recent relaxation, the price of European natural gas is still at a comparatively high level.
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