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Germany plans to introduce gas reserve law into force

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German Economics Minister Robert Habeck intends to speed up the construction of planned national gas reserves in Germany.
According to a document issued by the Ministry of Economy, the gas reserve law is expected to be approved no later than next April, to enter into force on May 1.

According to the document, this legislation is necessary so that the entire summer half of the year is available to fill the storage tanks.

The first consultation on the bill, which will present specifications for the fill level in storage facilities, is scheduled for next Thursday in the German parliament.

Specifically, it obliges the so-called “market area administrator”, a company affiliated with all gas pipeline operators in Germany, to progressively fill gas storage facilities up to 90% until the first of December next.

The fill must reach 65% by August 1 and 80% by October 1.

The legislation is intended to ensure that gas storage tanks are always adequately filled.

The document issued by the ministry states that gas storage facilities in Germany play an essential role in the supply of gas during the winter months and can be balanced during demand peaks in cold periods, thus ensuring a regular supply of gas. .

The document states that storage levels were historically low this winter, which is especially true in the storage facilities of the Russian state-owned company “Gazprom” and is one of the reasons for the sharp increase in prices in commercial positions to short term.

The document noted that when there was a peak in demand, almost no additional gas was provided from storage facilities, adding: “Such a situation in storage facilities should not be repeated next winter.”

According to the document, the costs incurred by the intervention tools will be borne by the network users.

The document indicated that it is now difficult to predict the amount of costs because it is not possible to estimate the number of interventions that the market area official will have to carry out.

The document said: “As gas is withdrawn from tanks again during price increase stages, especially in the winter season, profits can be made, thus alleviating burdens on gas customers.”

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