Germany enters winter with gas storage below its target

Overview

Updated 1 hour ago

Germany's gas storage was 62% full on Friday 30 October, eight percentage points short of the government's 70% target for the start of winter. A spokesperson for the economy and energy ministry confirmed the figure and blamed higher prices caused by conflict around the Strait of Hormuz. A higher fill level would have been preferable, the official said.

The shortfall matters because storage is sized to cover winter demand swings, not a whole year of consumption. Germany holds about 250 terawatt-hours in its caverns and burned close to 850 terawatt-hours in 2024. Storage operators warned in September that fill levels were the lowest in at least 15 years, and the ministry has since paid for standby gas and ordered the state importer Sefe to buy more.

Why it matters

A cold winter with thin German storage feeds straight into European wholesale gas prices and household heating bills.

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Key Indicators

62%

German gas storage fill level

Reading for 28-30 October 2026, against a national target of 70% for the start of winter.

70%

Winter storage target

The level the economy ministry had aimed for by the start of the heating season.

Points below the 2017-2021 average

Storage sits 28 percentage points under the five-year average for late October, per NDR.

250 TWh

Total storage capacity

Roughly 250 terawatt-hours, against about 850 terawatt-hours of consumption in 2024.

8 TWh

Gas ordered from Sefe

Volume the economy minister told the state-owned importer to procure and store by 15 December.

€245m

Winter reserve contracts

Value of standby gas contracts awarded by market operator Trading Hub Europe, announced 23 October.

Voices

Curated perspectives — historical figures and your fellow readers.

People Involved

Katherina Reiche

Federal Minister for Economic Affairs and Energy

In office; ordered additional storage purchases in September

Friedrich Merz

German Chancellor

In office

Organizations Involved

Economy Ministry

Government ministry

Sets storage targets; confirmed 62% fill on 30 October

The ministry responsible for German energy policy and security of supply.

Trading Hub Europe (THE)

Gas market operator

Awarded standby supply contracts for winter 2026/27

The operator that organizes the German gas market and buys reserve gas.

Sefe (Securing Energy for Europe)

State-owned energy company

Ordered to procure and store 8 TWh by 15 December

Federally owned gas importer and storage operator created from the former Gazprom Germania.

INEOS

Chemical company / event sponsor

Warned that a very cold winter could strain supply

The lobby group representing German storage operators.

Bundesnetzagentur (BNetzA)

Regulator

Says supply security is guaranteed

Germany's network regulator, which publishes storage data and assesses supply risk.

Timeline

August 2022 October 2026

10 events Latest: Today

Tap a bar to jump to that date

October 2026
Ministry confirms 62% storage, below 70% winter target
Today Statement

A spokesperson blamed Hormuz-related price rises and rejected Italian claims of deliberate under-filling.
Today
Storage reads 62%, 28 points under the five-year average
Data

NDR reported the fill level was far below the 2017-2021 mean for the same date.
2 days ago
Market operator buys €245m of standby gas
Market

Trading Hub Europe awarded contracts for February and March 2027 and standard grid-bottleneck cover.
7 days ago
Storage at 61.1%, down from 75.4% a year earlier
Data

The gap to the previous year stood at more than 14 percentage points.
October 21st, 2026
September 2026
Reiche orders Sefe to buy 8 TWh by mid-December
Policy

The minister directed the state importer to procure and store gas, a move coordinated with the chancellor.
September 30th, 2026
Storage measured at 57.7%
Data

The Federal Network Agency reading was nearly 19 percentage points below the same date a year earlier.
September 28th, 2026
Ministry says 60-70% fill is enough for winter
Statement

Berlin said no intervention was needed, arguing storage plus extra import options would cover demand.
September 8th, 2026
February 2026
Cold winter leaves storage at a historic low
Market

Germany came out of winter with unusually empty caverns, so summer refilling started from a low base.
February 2026
May 2025
The 90%-by-November storage rule lapses
Policy

Germany's requirement that stores reach 90% by November expired, loosening the refill obligation.
May 2025
August 2022
German wholesale gas briefly tops 30 cents a kilowatt-hour
Market

After Russia cut pipeline supply, prices spiked and Germany had no LNG import terminals of its own.
August 2022

Scenarios

German storage ends the winter above 25%

Possible Resolves by Apr 1, 2027

Discussed by: gas-risiko.de modeling and INES both sketch a normal-weather path where storage lands well above a tenth of capacity in April.

If temperatures track the median of recent winters and imports hold near last winter's levels, storage does not run dry. The gas-risiko.de case built on the last 30 days of supply ends around 4% on 1 April, but a replay of last winter's import volumes leaves 19%. INES puts a normal winter at roughly 38% on 1 April. A mild February makes this outcome the default.

German storage falls below 10% before spring

Unlikely Resolves by Apr 1, 2027

Discussed by: INES warned in September that a very cold winter could empty stores by February; gas-risiko.de's continuation case points to 4% on 1 April.

A sustained cold snap combined with disrupted LNG deliveries would drain caverns faster than the summer refill replaced them. The gas-risiko.de calculation that carries the current supply pattern forward ends the winter at 4%. INES modeled an undersupply of more than 25% on individual January days in an extremely cold scenario. This is the path where the 62% starting point actually bites.

Sefe confirms the 8 TWh purchase by mid-December

Likely Resolves by Dec 20, 2026

Discussed by: The economy ministry set the deadline and framed the order as a signal to other market participants.

The September order gave Sefe until 15 December to procure and store 8 terawatt-hours, about 3 percentage points of national capacity. The ministry said the gas should come from additional deliveries so it does not displace other companies' storage. Whether the company hits the number depends on prices and available cargoes over the next six weeks.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

2022

Russia cuts pipeline gas to Germany (2022)

After Russia's invasion of Ukraine, pipeline deliveries to Germany fell sharply. Wholesale prices briefly passed 30 cents a kilowatt-hour in August 2022, and Berlin treated storage levels as a security question. Germany had no LNG import terminals at the time.

Then

Germany built floating LNG terminals and filled storage under a rule requiring 90% by November.

Now

The terminals at Wilhelmshaven, Brunsbüttel and Stade, plus two private Deutsche Regas facilities, became the supply channel the ministry now cites as its buffer.

Why this matters now

The 2026 ministry argument rests on comparing today with 2022: lower prices, more import routes, and storage that is no longer the only lifeline.

February 2026

February 2026 cold snap

A cold winter drew German storage down to a historic low, and the country entered the summer refill season already depleted. Looser storage rules in the preceding year meant less gas had been banked before that winter began.

Then

Summer injection started from a very low base, leaving less room to catch up before autumn.

Now

The low starting point is the main reason 62% now reads as a shortfall rather than a normal seasonal level.

Why this matters now

It explains why this year's fill level is judged against a target it was always going to struggle to reach.