German gas storage at 60.4 percent as regulator sees supply as stable

Germany's Federal Network Agency said on October 15 that gas storage was 60.4 percent full, well below comparable periods in previous years. It nevertheless rated the risk of strained supplies as low.

The agency said it took the low inventory level seriously. It considers a comparatively low storage level at the end of winter likely.

Daily injections had been modest in recent days. The regulator linked that pattern to gas traders' hedging strategies and said those injection rates were not in themselves critical to supply security.

The agency said supply security depended on the combination of pipeline imports, stored gas, LNG, infrastructure and demand. Its current assessment described Germany's gas supply as stable.

The import figures cover October 6 through October 13. German LNG terminals operated at an average capacity utilisation rate of 34.2 percent during that period, according to the agency.