Germany's Gas Storage Sits at 57%, but VNG Says Winter Supply Is Covered
Thanks to diversified import capabilities, Germany doesn’t face a gas supply shortage despite record-low levels of natural gas in storage sites, according to one of the biggest German gas importers, VNG. “Compared to 2022, the system is much more robust overall. We have more access to liquefied natural gas (LNG) and we have broadened our overall position in terms of sources of supply,” VNG’s…
Germany's natural gas storage levels are currently at 57%, but major importer VNG assures that the country's winter supply is secure. CEO Ulf Heitmueller told Reuters that the country's system has become more robust compared to 2022, thanks to increased access to liquefied natural gas (LNG) and a broader range of suppliers. VNG has diversified its portfolio of suppliers by signing deals to import gas from Azerbaijan and Algeria, following the cessation of Russian pipeline gas to Germany due to the Ukraine invasion.
Heitmueller emphasized that VNG's portfolio is structured to meet delivery obligations to customers, even in a cold winter scenario. In 2024, VNG started procuring gas from Algeria, which has since become a key source of gas to Europe. The German gas importer recently signed a new agreement with Algeria's state energy firm Sonatrach to receive additional gas volumes starting in 2027.
Despite global gas storage sites being only 70% full as of September 27, Germany's extensive storage capacity remains at just 57%, raising concerns over supply security if the upcoming winter proves colder than usual.
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