Germany could run out of gas in early 2023 – ANZ
|Europe has made the most of a seasonal lull in demand to fill gas storage facilities well ahead of schedule. However, the energy crisis is far from over. Germany is still at risk of running out of gas this winter, according to strategists at ANZ Bank.
Risks of energy shortages worsening are high
“The situation in Germany is perilous. Its gas inventories can cover two months of peak demand. As temperatures fall through Autumn, demand for heating fuels will rise significantly above the current supply. As it stands, the country could run out of gas in early 2023.”
“Risks of energy shortages worsening are also high. Russian gas producer Gazprom has highlighted that several other turbines on the Nord Stream require maintenance. Ultimately Germany would need to be successful in cutting natural gas consumption by 15% to keep gas storage facilities from running empty.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.