Germany surpasses its target of 75% gas stocks ahead of schedule

Germany has 23.3 billion cubic metres (bcm) of underground gas storage, accounting for slightly more than a fifth of the 100 bcm of gas consumed in 2021.

Since mid-June, Russia has drastically reduced flows to Europe via the Nord Stream 1 pipeline, supplying only 20% of agreed volumes.

Germany is in the second stage of a three-stage emergency plan developed in response to a reduction in Russian gas flows.

According to GIE data, the Rehden storage unit, which holds 4 bcm, was 54% full.

The government had set a target of 75% gas storage by September 1.

The Ukraine crisis has significantly increased the global oil price in recent weeks.