Germany to Set Up State Gas Reserve After Missing Winter Storage Targets
The German government will go ahead with a planned 24-terawatt-hour crisis gas reserve to be funded by user surcharges, the economy ministry said, following criticism over missed storage targets for the winter heating season…
Pipes at the landfall facilities of the 'Nord Stream 1' gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal Hanschke//File Photo
BERLIN, Nov 11 (Reuters) – The German government will go ahead with a planned 24-terawatt-hour crisis gas reserve to be funded by user surcharges, the economy ministry said, following criticism over missed storage targets for the winter heating season this year.
The state buffer, which amounts to about 10% of the nation’s gas storage capacity, will be accumulated over up to three years, the ministry said in a statement on Wednesday.
It said the move would address severe disruptions, for example from acts of sabotage, and does not replace the private sector’s seasonal stock-keeping duties.
This story was originally published by gCaptain. Read the full story at gCaptain →
Conversation