Germany’s gas reservoirs are only 53 percent full. That is far below previous years’ levels. The low storage revives bad memories of winter 2022, when Russian deliveries stopped. Summer storage, usually done when prices are low, makes no economic sense this year. Market prices are high due to the Iran war and the Hormuz Strait crisis.
The German gas network operators said the legally required 71 percent fill level by November 1 is now “virtually unattainable.” Even with maximum daily injections, it is out of reach. LNG terminals can barely cover 10 percent of winter needs. Two federal states have urged federal intervention. Bavaria’s economy minister said they cannot afford to head blindly toward a shortage.
Even the Greens have expressed concern. They are demanding a summit on supply. Politicians and economists worry about soaring bills. Inflation has returned to Germany, reaching 2.9 percent in August. The economy ministry plays down the situation. It acknowledges lower reserves but says no gas shortage is expected for winter.
The ministry argues supply security depends on pipeline imports, LNG, European exchanges, and demand, not just stocks. But energy groups say the problem is structural. Since 2022, the price gap between winter and summer has narrowed. In some cases, summer prices are even higher than winter ones. This makes profitable storage much harder.
Meanwhile, Berlin could face a delicate situation with the US. Germany has shifted from Russian gas to greater reliance on US LNG. Experts warn that any threat to limit deliveries could carry enormous costs. The coming winter will test Germany’s energy system.
Reference
Le Monde, “En Allemagne, le faible niveau des stocks de gaz nourrit la peur d’une nouvelle crise,” published September 3, 2026. https://www.lemonde.fr/economie/article/2026/09/03/en-allemagne-le-faible-niveau-des-stocks-de-gaz-nourrit-la-peur-d-une-nouvelle-crise_6765177_3234.html