GAS SHORTAGE POSSIBLE BY END OF JANUARY

BERLIN, SEPTEMBER 8 /SRNA/ - German gas storage facilities could be completely depleted by the end of January in the event of a severe winter, leading to a fuel shortage for both industry and the general public, according to data published by the gas storage association INES.

Germany's gas storage facilities are currently only 53 percent full, the lowest level recorded at the beginning of September since records began 15 years ago.

According to INES data, it will technically be possible to fill the storage facilities to 77 percent by November 1.

Under normal temperature conditions, this level of gas storage is projected to fall to around 38 percent by April 1. However, in the event of an exceptionally cold winter, the storage facilities would be empty by the end of January.

Under such a scenario, the gas shortage could exceed 25 percent on certain days, meaning there would physically not be enough fuel for all consumers.

"However, under extremely low temperatures, a storage level of around 77 percent would not be sufficient. On some days in January, the supply shortfall could exceed 25 percent," the study states.

Bloomberg reported yesterday that the German Government is negotiating with state-owned energy companies on replenishing gas reserves in an effort to avoid direct intervention in the market, which could cause price instability.