Empty storage, high gas prices: the expert sees Russian calculations behind it

Created: 01/21/2022, 11:44 am

On Tuesday, the natural gas storage facilities in Germany were only just under 45 percent full.

High gas prices make heating more expensive.

(Iconic image) © Hauke-Christian Dittrich/dpa/Iconic image

The Russian state-owned company Gazprom is keeping its deliveries to Germany on the back burner.

Gas market expert Fabian Huneke suspects that the Ukraine conflict is the reason for this behavior.

Berlin/Essen - The gas market expert Fabian Huneke sees the behavior of the Russian state-owned company Gazprom* as a main reason for the currently low overall level of German gas storage.

Expert: Gazprom does not behave in a market-rational manner in its gas supplies

"The gas flows across the German borders are unusually low for this time of year - with the exception of Nord Stream 1, which are constantly high," said the energy market expert from the consulting firm Energy Brainpool of the German Press Agency.

It is surprising that against the background of high prices and high demand, the gas supply capacities to Europe are so little used.

"If Gazprom behaved in a market-rational manner, they would also increase gas supplies to Europe through the pipelines that run through Belarus and Ukraine." Huneke sees the reason for this behavior in the Ukraine crisis.

Germany's natural gas storage facilities are only 45 percent full

On Tuesday, the natural gas storage facilities in Germany were just under 45 percent full, according to an overview of European storage companies.

Since records began in 2011, there has not been a January 18 with a lower percentage.

The industry association of storage companies in Germany, the Energy Storage Initiative (INES), cites other reasons for the current fill level.

April 2021 was unusually cold, so that a lot of gas* was taken again at the beginning of the refilling season, said INES Managing Director Sebastian Bleschke.

Then, unlike in previous years, prices rose in the summer.

The gas market therefore reacted cautiously and did not store as much.

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