Germany Eases Gas Supply Security Amid Stabilizing Market Conditions
Germany has reduced its gas supply security level to early warning as supply bottlenecks have eased. Economy Minister Katherina Reiche assures gas security despite past disruptions due to the Russia-Ukraine conflict. Gas storage levels are low, but storage activity is high with stable market conditions.
Germany has downgraded its gas supply security level to early warning, thanks to an easing of supply constraints, Economy Minister Katherina Reiche announced on Tuesday.
The alert level was initially declared in June 2022 when Russia invaded Ukraine, disrupting gas imports. Minister Reiche stated that Germany no longer relies on Russian pipeline gas or LNG. Despite storage levels being 50% below normal, increased storage activity and stable gas prices underscore the secure supply status.
The government emphasizes that while overall supply remains stable, the early warning level allows close monitoring. Reiche explained the market is managing without additional non-market measures, with gas prices stabilizing at around 34 euros per megawatt hour—twice the rate before the Ukraine conflict.
(With inputs from agencies.)
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