Germany — will gas become scarce?
At the beginning of February, gas storage levels in Germany are lower than they have been for a long time.
FX and Commodity Research
02/13/2026
Gas storage levels unusually low ...
German gas storages have emptied significantly in recent weeks. They are currently only about 25% full, which is more than 20 percentage points lower than a year ago. In the past ten years, this figure has never been so low at this time of year. Across the EU as a whole, gas storage levels are around 10 percentage points higher than in Germany. However, they are still 17 percentage points lower than normal for this time of year.
... due to higher demand ...
The significant decline in storage levels is primarily due to stronger demand. Lower temperatures in recent weeks have led to higher gas consumption for heating. In addition, less wind energy was generated, which had to be offset by greater use of gas for power generation.
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