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Germany aims to extend gas tenders for winter supply
The German government and the gas market management company are studying the expansion of long-term option auctions to increase gas supplies during the winter season, with the aim of meeting demand and reducing reliance on direct market purchases. The plan involves offering additional quantities of up to 5 billion cubic meters (approximately 50 terawatt-hours), covering about 20% of total storage capacity, in an effort to improve storage levels, which have fallen to their lowest since 2009 at 56%. These measures come amidst rising European gas prices and the impact of the Middle East conflict on markets, with the government relying on financial incentives for suppliers to inject gas into their storage facilities, aiming to avoid dependence on direct purchases and address the storage shortage issue.
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