Germany began to tap gas from its storage facilities, hindering the task of filling the reserves by winter, the German Federal Network Agency said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 14th July, 2022) Germany began to tap gas from its storage facilities, hindering the task of filling the reserves by winter, the German Federal Network Agency said on Thursday.
"Depending on market conditions, gas is sometimes being taken out of storage. That means that overall, a bit more gas is being taken out than is being put into storage. This development makes it harder to reach the storage levels necessary for the winter and reduces the reserves available in the event of a gas deficit situation," the agency said in a report, adding that total gas storage level in Germany is currently 64.5%.
According to the report, German companies and private consumers must expect a considerable increase in gas prices.
Since 2021, energy prices in Europe, in particular in Germany, have been surging as part of a global crisis. After the beginning of Russia's operation in Ukraine and the adoption of several packages of sanctions against Moscow by the West, the energy situation has significantly worsened. Today, a kilowatt of electricity obtained from gas costs about 22 euro cents for German consumers, which is four times higher than in 2021.
In mid-June, Russian energy giant Gazprom announced that it could supply only 67 million cubic meters of gas to Nord Stream per day, while the initially scheduled volume stood at 167 million cubic meters. The company explained the reduction by the development of the overhaul cycle of gas compressor units (GCU), delays in the operation of Germany's Siemens corporation, which failed to return GCUs from repair from a Canadian plant due to Ottawa's sanctions against Russia, and technical malfunctions of engines.
Against this background, on June 23, German Energy Minister Robert Habeck announced the activation of the second phase of the country's gas emergency plan, which stipulates, among other things, that companies have to limit gas consumption.
