German firm SEFE boosts winter gas storage
German state-owned energy firm SEFE has increased natural gas storage levels independently. Europe heads into winter with the lowest inventories in years amid tighter global markets.
Germany state-owned energy firm SEFE boosted natural gas storage levels independently on Wednesday as Europe heads into winter with depleted inventories. European reserves sit at 53% capacity, the lowest level for the period in 15 years of records. Tightening supplies and rising costs are putting pressure on industrial consumers across the region.
### Market-Driven Storage Strategy Economy Minister Katherina Reiche plans to use market incentives to shore up reserves rather than direct state purchases that previously drove up prices. State-backed energy companies have agreed to maximize their storage capabilities following talks with officials. UNIPER SE stated that management decisions rely exclusively on economic criteria rather than political mandates.
