Energy - gas storage always full - economy


The natural gas storage facilities in Germany continue to fill up despite the fact that gas deliveries from Russia stopped at the end of August and the start of the heating period. The Federal Network Agency reports that they were recently used to a total of 90.5 percent. The daily total level values ​​have therefore been increasing continuously since July 19th. The gas storage facilities in the EU were recently 86.7 percent full.

The price of European wholesale natural gas also fell slightly again. Early on Friday afternoon, the price of the TTF futures contract for Dutch natural gas was just under 182 euros, around three percent below the previous day's price. The contract serves as a guideline for the European price level. Most recently, gas to be delivered in October cost less at the end of July.

The storage facilities compensate for fluctuations in gas consumption and thus form a kind of buffer system for the gas market. They are usually well filled when the heating season begins in autumn. The filling levels then decrease until spring. In the past, on cold winter days, up to 60 percent of gas consumption in Germany was covered by storage facilities. Germany currently receives natural gas via pipelines from Norway, the Netherlands and Belgium. At the turn of the year, a total of three terminals for landing liquefied natural gas (LNG) are to go into operation on the North Sea and Baltic Sea coasts.



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