According to the European Gas Storage Association (GIE), natural gas storage facilities in Austria have reached a filling rate of more than 80 percent, namely 81.69 percent.
According to information from Thursday, the situation in Germany is similar – storage facilities there were 80.04 percent full on the key date of June 27.
Gas prices have fallen sharply again
In mid-June, the forward-looking TTF futures contract for delivery in one month was temporarily listed on the Amsterdam Stock Exchange for more than EUR 46 per megawatt hour (MWh). Since this height, the gas price has fallen sharply again. The TTF futures contract was traded on Thursday at 32.75 euros per MWh.
Location much better than last year
Gas storage facilities are filling up much faster than last year, when the aftermath of the war in Ukraine fueled concerns about gas shortages. The storage facilities absorb fluctuations in gas consumption and thus form a buffer system for the market. Fill levels usually decrease in winter. From the end of March/beginning of April, more is usually stored than withdrawn.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
