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Storage not full enough: Trading Hub Europe boss warns of gas shortages in winter

2022-08-23T05:13:39.763Z


The buyers of the gas suppliers are intensively looking for new sources of supply all over the world. Nevertheless, they warn: the 95 percent mark for filling the storage facilities will not be reached across the board.


Enlarge image

Gas storage Rehden: Regional shortages

Photo: Mohssen Assanimoghaddam / dpa

According to the Managing Director of Trading Hub Europe (THE), Germany may not be able to fully meet the legal requirements for filling gas storage facilities.

"We will be able to fill many storage facilities up to 95 percent by November, but not all of them," says Torsten Frank of the "Rheinische Post".

“I don't expect a nationwide gas shortage.

However, there may be regional shortages, which unfortunately cannot be ruled out.« The manager is confident about private households: »We are making good progress with storing and saving.

I am very confident that private households will not have to freeze this winter.«

According to Frank's assessment, the level of the gas surcharge will soon change.

»The allocation can be adjusted every three months.

Because of the dynamic development, I assume that the levy will have to be adjusted this winter," said the manager.

"The surcharge can fall when the situation calms down, but it can also rise if, for example, Gazprom should further reduce its deliveries or if the companies' forecasts change."

The surcharge is intended to benefit suppliers who have to buy replacement gas from Russia for the missing, cheaper gas at high prices.

Trading Hub Europe calculates the amount of the levy as a joint venture between the transmission system operators.

The company had put the levy at 2.4 cents per kilowatt hour last week.

mik/Reuters/dpa

Source: spiegel

All business articles on 2022-08-23

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