German Gas Storage at 61.03%, Below Overall Target of About 70%
Key Facts
German gas storage stood at 61.03% on November 1, 2026, below the country’s overall target of about 70% for the start of the month, according to Reuters. That leaves a gap of about 9 percentage points against the target. The shortfall comes as the heating season begins and after the benchmark European gas contract briefly touched 100 euros per megawatt hour in late October. However, Germany’s overall target is not 80%, as stated in the previous version of the report. The regulation sets different targets for individual storage facilities, resulting in an overall target rate of 70%.
German rules set a level of 80% for most storage facilities on November 1, compared with 45% for six exempt facilities: Bad Lauchstädt, Frankenthal, Hähnlein, Rehden, Stockstadt and Uelsen. Germany’s regulator says these levels together produce a 70% fill target across the country’s storage facilities. Comparing storage of 61.03% with an 80% target for all storage therefore overstates the size of the shortfall. Measured against the overall target, the recorded level is about 9 percentage points below the required level. This distinction puts the figures in their correct regulatory context at the start of the month.
Storage operators’ association INES called for a review and improvement of the storage-filling mechanism, saying the failure to meet targets calls for storage levels for coming winters to be secured more rigorously. The association said the main factor behind low storage levels was the Iran war and its impact on prices, which made filling storage caverns during the summer uneconomic. Its position indicates that, in the association’s view, the problem was not simply a failure to meet a regulatory figure, but was also linked to the weak commercial case for summer storage. INES said: "The failure to meet storage targets shows that storage levels for coming winters must be secured more rigorously." The available facts did not cite a new target or a specific government measure to address the shortfall.
By contrast, German regulator head Klaus Müller said meeting storage targets was no longer necessary to ensure security of supply, pointing to the potential contribution of liquefied natural gas terminals to imports. The regulator says gas supplies in Germany are stable and security of supply is assured, and estimates that the risk of strain remains low based on the available information. Its assessment rests on the interaction of pipeline imports, LNG terminals, storage, infrastructure and demand, rather than storage alone. The regulator says traders bear primary responsibility for securing volumes. Müller said: "Meeting storage targets is no longer necessary for gas supply security."
Gas network operators’ data show that daily injections into storage were below 0.5 terawatt hours in August 2026. Domestic LNG terminals can also supply slightly less than 10% of total customer demand on a typical winter day, according to network operators’ association FNB Gas. The association’s head warned that lower LNG imports, late or prolonged cold spells, or infrastructure outages could threaten supply during the winter. The association called on lawmakers to require traders to secure sufficient volumes through storage facilities until the end of the season. This adds a practical dimension to the divide between the regulator’s assurance of stable supplies and storage and network operators’ call for stronger guarantees.
On prices, the Dutch front-month contract at the TTF hub briefly touched 100 euros per megawatt hour on October 28, up about 4% from the previous session, according to Reuters. The contract did not settle above that level; trading recorded only a brief touch. An analyst at Rystad said low storage levels and limited options for replacing disrupted supplies were increasing the market’s vulnerability. Europe’s LNG imports in the week ended October 9 were 30% below their level a year earlier, according to Reuters. The decline in imports coincides with the market’s sensitivity to storage levels and alternative supplies.
Higher wholesale prices feed through to gas and electricity costs for consumers and industry, according to Reuters. But retail contracts typically lag in reflecting changes in wholesale prices, so most of the impact on bills is likely to emerge in 2027. This lag means the price shock reaches households gradually, even as the market recorded sharp increases in late October. On security of supply, the regulator says its assessment continues to rest on a mix of imports, storage, infrastructure and demand. The network association called for stored volumes to be secured through the end of winter, while the regulator kept its assessment of the risk of supply strain at a low level based on the available information.