Natural gas supply security concern in Germany: The occupancy rate of warehouses is at a critical level

The occupancy rate of natural gas tanks in the country is currently at 50 percent. While 80 percent occupancy must be legally reached by November 1, even the 71 percent target calculated as a result of exemptions is described as "almost impossible" by the German Gas Transmission Network Association.

The fact that the German Ministry of Economy and Energy followed a policy that relied only on market dynamics opened the door to discussions on supply security in the country and also increased criticism.

While experts, sector representatives and the opposition argued that the current measures were insufficient to guarantee natural gas supply during the winter months, the Ministry of Economy and Energy signaled a step back in the face of rising pressures.

In the statement made by the Ministry, it was stated that action options that can be put into action quickly and effectively in case the situation worsens have been prepared.

In the statement, it was stated that storage levels, LNG availability, infrastructure and the situation in neighboring countries were analyzed continuously, but no concrete details were given about possible market interventions.

The blocking of the Strait of Hormuz due to the war in the Middle East disrupts global oil and natural gas shipments and increases prices.

Companies aiming to buy and store gas at low prices during the summer months avoid purchasing due to high costs. This situation reminds us of the crisis period after the Russia-Ukraine War in 2022, when billions of euros of public resources were spent and warehouses were filled.

Alice Weidel, Co-Chair of the main opposition far-right Alternative for Germany Party, harshly criticized the government and said, "The facilities are half empty, the level has never been this low. The government is endangering the security of supply with its wrong policies." he said.

Michael Kellner, Energy Policy Spokesperson of the opposition Green Party, criticized the government, stating that market mechanisms collapsed with the closure of the Strait of Hormuz.

"There is no sign that the tanks will fill quickly. We may have to import gas at much higher prices to avoid supply disruptions in the winter," Kellner said. he warned.

European Energy Exchange Chief Executive Tobias Paulun also emphasized that the tanks will not be filled without additional measures and said, "If natural gas is more expensive in summer than in winter, you cannot fill the tanks with market dynamics. Political will needs to step in and create a complementary mechanism." he said.