Germany aims to boost gas reserves

Germany intends to encourage gas traders to increase market reserves during the winter season, aiming to avoid supply shortages amid concerns over the record-low storage level of 53% in early September, the lowest in 15 years. The measures will include increasing the volume of gas allocated for auctions in the fall and securing supplies through long-term options, with an agreement to boost the use of storage capacities held by the two state-owned energy companies, Uniper and Sevi. The government plans to make a final decision on this matter by September 21, with expectations that the continued decline in reserves could lead to supply shortages if the winter proves to be particularly cold.

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