Gas supplies in Germany are secure for the remainder of the winter. At the same time, the gas storage association Ines warns that refilling storage facilities in the coming months could pose a serious risk for next winter. This is due to the strained international gas markets and Iran’s closure of the Strait of Hormuz, which, while not causing immediate technical disruptions in Europe, has significantly increased prices on global LNG markets. Because the market lacks economic incentives for gas storage and the facilities are starting from historically low levels, the risk to households, businesses, and the stability of next winter’s supply is growing. (welt: 17.03.26)
High LNG Prices Make Storage Filling a Risk
According to Ines, the real challenge is no longer this winter, but rather preparing for the next heating season. The increased LNG prices mean that traders and suppliers currently have little economic incentive to store gas. Therefore, the very process that is crucial for a secure supply in winter is stalled.
Sebastian Heinermann, Managing Director of Ines, describes the situation clearly. “The supply for the rest of the winter is secured. The real challenge now lies ahead – refilling the storage facilities for the coming winter,” he said. He also sharply criticized the existing regulations: “The status quo is unsustainable – existing mechanisms do not adequately safeguard gas supply security because the incentives for filling the gas storage facilities are insufficient.” From the association’s perspective, this increases the risk that Germany will enter the next cold season with insufficient reserves, despite a mild winter.
Strait of Hormuz exacerbates the situation on the global market
The closure of the Strait of Hormuz does not directly affect Europe via pipelines or storage technology. Nevertheless, the blockade has a significant impact on the global market for liquefied natural gas (LNG) because important supply volumes from the Gulf States are missing. While Europe can continue to import gas, the cost of purchasing it has increased considerably, making it more difficult to build up reserves.
Qatar’s role is particularly significant. The country is one of the world’s leading LNG producers and, due to the blockade, is currently unable to ship some of its gas as usual. This reduces the supply on the global market, while simultaneously increasing competition for available quantities. For Germany, this does not result in an immediate supply disruption, but it does pose an additional risk to prices, procurement, and timely storage replenishment.
Association Calls for New Rules for Gas Supply
The association therefore considers a further development of the legal and regulatory framework necessary. In its assessment, the existing mechanisms are insufficient to ensure the filling of storage facilities, even under difficult market conditions. If high prices make storage unattractive, the market loses its protective function from the operators’ perspective.
INES is an association of operators of German gas and hydrogen storage facilities. According to its own figures, the association represents more than 90 percent of German and around a quarter of EU gas storage capacity. The warning therefore carries political weight and does not just affect individual companies. The crucial question now is whether policymakers take timely countermeasures to prevent the strained market situation from becoming a problem for next winter’s supply.