Overview
- Aggregate storage has fallen to roughly a quarter of capacity, with stark regional lows such as Rehden near 7% and several Bavarian sites in single‑digit or low double‑digit levels.
- Berlin and the Bundesnetzagentur say the system remains stable, pointing to expanded LNG capability and steady pipeline flows, while recent ice at the Mukran terminal was cleared on February 11.
- Greens have requested a parliamentary hearing with Economy Minister Katherina Reiche and regulator Klaus Müller as industry groups and experts press for a national strategic gas reserve.
- Market structure is flashing warning signs for summer refilling, with Summer 2026 prices trading above Winter 2026/27, which analysts say undermines incentives to inject gas.
- Authorities could rely on Trading Hub Europe tools under the Gasspeichergesetz if market refilling stalls, as debate grows over interventions and Germany’s heavy reliance on U.S. LNG supplies.