BERLIN, Aug 28 (Reuters) – The German government said on Friday that gas operators were actively filling storage facilities, \u200cciting improved price dynamics and weaker competition from Asia \u200cfor liquefied natural gas cargoes. <\/p>\n
German gas storage sites were 51.64% full, an \u200beconomy ministry spokesperson told a regular government press conference, adding that operators had injected significant volumes in recent days. <\/p>\n
“The winter-summer price spread – which was always the problem, as prices were too high – \u200chas improved a bit, \u2060which may be one factor,” the spokesperson said. <\/p>\n
“Another factor is that the heatwave in Asia has \u2060subsided, meaning cargo shipments are no longer heading there but are instead being purchased here.” <\/p>\n
Germany aims to have its storage caverns \u200bat 70% \u200bof capacity by the beginning \u200bof November – a target that \u200cenergy lobby group BDEW described this month as achievable, though a challenge. <\/p>\n
The government is closely monitoring the situation, the spokesperson said, adding that the ministry expects market participants to continue filling facilities. <\/p>\n
“The market has always fulfilled this task and we continue \u200cto see that the market is \u200bfunctioning,” the spokesperson said. <\/p>\n
However, the spokesperson \u200bcautioned against focusing solely \u200bon storage levels, saying a specific storage percentage \u200cdid not by itself determine \u200bwhether supplies could \u200bbe considered secure. <\/p>\n
“It is not about exactly reaching 70%,” the spokesperson said, adding that security of supply depended on \u200ba broader assessment \u200cthat included Germany’s LNG import terminals and the ability \u200bto increase imports from western European countries. <\/p>\n
(Reporting by Miranda \u200bMurray, Editing by Louise Heavens) <\/p>\n","protected":false},"excerpt":{"rendered":"BERLIN, Aug 28 (Reuters) – The German government said on Friday that gas operators were actively filling storage…\n","protected":false},"author":2,"featured_media":1174111,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5310],"tags":[14040,521,2574,2000,299,5187,16756,1824,5443,318301,3577,51924],"class_list":["post-1174110","post","type-post","status-publish","format-standard","has-post-thumbnail","category-germany","tag-a","tag-asia","tag-berlin","tag-eu","tag-europe","tag-european","tag-german","tag-germany","tag-lng","tag-louise-heavens","tag-of","tag-reuters"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/117173048238478278","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1174110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=1174110"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1174110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/1174111"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=1174110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=1174110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=1174110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}