German natural gas storage facilities are filled to just over 50 percent, the lowest level in years, raising doubts about whether the country can meet a legal mandate to reach 80 percent capacity by November 1. The industry association FNB-Gas has warned the target is now virtually unattainable, even at maximum daily injection rates.
The blockade of the Strait of Hormus has tightened global LNG supply, pushing the European TTF benchmark to 64.60 euros per megawatt hour on Wednesday — the highest since the early stages of the Iran conflict. Federal Network Agency President Klaus Müller called current reserves unsatisfactory and urged traders to accelerate injections.
The Federal Ministry for Economic Affairs acknowledged storage levels are very low but said it sees no need for government intervention, placing responsibility on the private sector. Bavaria's economy minister, Hubert Aiwanger, demanded federal action, while opposition lawmaker Jörg Cezanne accused the government of gambling with supply security. Nearly half of Germany's gas imports arrive from Norway.