Now that the winter season ended, Germany has started the process of filling its natural gas storage sites via auctions. As prices have declined and are in contango, Europe’s biggest economy has managed to fill just over half of its gas storage capacity so far. Germany’s gas storage capacity was nearly 53% full as of June 9, according to data from Gas Infrastructure Europe. EU member states are now required to reach a minimum 80% gas storage level by November 1 to protect against potential interruptions to supply. In 2023, the target will be raised to 90% full gas storage by November 1. With day-ahead prices now at a huge discount to prices for the winter months, Germany is coping well with procuring gas so far, contrary to earlier doubts from the industry, Bloomberg reports . Germany depends on Russian gas—mostly via the Nord Stream pipeline—for nearly 40 percent […]