Germany's SEFE Says Gas Storage Build-Up Was Its Own Call
SEFE says it independently decided to increase gas storage, denying any government order, amid low German inventories.
Germany's state-controlled gas importer SEFE said it made an independent commercial decision to increase its natural gas storage, rejecting any suggestion that the economy ministry had directed it to do so.
The company, which also runs gas pipelines and storage facilities in Germany, said it had chosen on its own to fill the storage capacity it had booked.
The statement followed indications that Economy Minister Katherina Reiche would rely on market incentives to build up gas reserves for winter heating, rather than turning to direct state purchases.
According to a government source, Berlin has also agreed with the state-owned energy companies Uniper and SEFE that they will make fuller use of their storage capabilities. The arrangement reflects growing concern over low inventories.
Germany's gas storage sites were about 53% full in early September, the lowest level for that time of year since records began 15 years ago, according to the storage association INES.
The low stockpiles have raised questions about winter supply security and prompted debate over how far the state should intervene in the market to ensure adequate reserves.