Germany's SEFE says it has ministry order to store 8 TWh of gas

By Reuters News

FRANKFURT, Sept 30 (Reuters) - German state-owned gas importer SEFE said on Wednesday that the economy minister has instructed it to increase its natural gas storage level by 8 terawatt-hours by December 15 and to make purchases accordingly.

The order, which SEFE said was made by the government in its capacity as an owner, is a sign of heightened concern over inventories ahead of winter heating, after SEFE previously said its storage moves had resulted only from "independent commercial decisions".

Europe heads into winter with the lowest inventories in years after global conflicts boosted energy costs. Having weaned themselves off cheap Russian gas after Moscow's 2022 full-scale invasion of Ukraine, European nations are scrambling to rebuild depleted reserves amid disruptions to Middle East supplies.

Economy Minister Katherina Reiche previously limited herself to market incentives to shore up gas storage, while avoiding the direct state purchases that have stoked prices in the past.

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