At the end of the gas storage year this Friday, the gas industry warned against easing the situation too early. Even if there was no shortage in winter 22/23, gas still had to be saved, said the board member of the industry association Zukunft Gas, Timm Kehler, of the German press agency dpa. "Now it's time to refill the storage tanks and prepare for a secure gas supply in the winter of 23/24." The markets are still very volatile, significantly higher prices cannot be ruled out in the further course of the year.

Kehler cited the rapid development of the LNG infrastructure, gas savings by companies and the general public, and the mild weather as reasons for the good weather of last winter. LNG is the abbreviation for the English term "Liquefied Natural Gas".

The key to calming the markets is the short-term expansion of the LNG supply chains and the necessary terminals, said Kehler. This is "urgently necessary in order to be able to ensure a secure and resilient supply and stable, affordable gas prices in the future".

Association: Stationary LNG terminals needed

The floating LNG terminals are a good solution for securing supplies in the short and medium term. Stationary LNG terminals would be needed in the future in order to restore the necessary level of security of supply and to be able to guarantee energy imports of new gases such as hydrogen, Kehler continued.

So far, three floating LNG terminals are in operation on the German coasts. Three more are scheduled to go into operation at the end of 2023/beginning of 2024. In 2026 and 2027, three stationary terminals are to start, through which hydrogen will later also be imported. Critics consider the plans to be oversized and fear negative consequences for climate protection due to higher gas consumption. The federal government argues with a "safety buffer" that could also be used to supply neighboring countries in an emergency.