09 May 2024,   01:11
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Germany says gas stocks rising quicker than expected

Germany is replenishing its gas stocks more quickly than expected despite drastic Russian supply cuts and should meet an October target early, the government said.

Last week, Germany’s energy regulator the Federal Network Agency said the country was unlikely to meet its goals. But the government said energy saving measures in recent weeks and massive purchases of gas from other suppliers saw “significant progress” made.

“Despite the difficult circumstances ... the reserves are filling up more quickly than expected”, - Economy and Climate Minister Robert Habeck said.

A target to achieve 85% of gas storage capacity by October “should be reached by the start of September”, - with current levels at 82%, his ministry added.

Gas flows from the main pipeline, Nord Stream, fell to 20%, with the EU accusing Moscow of using energy as a weapon in its stand-off with the West over Ukraine. To avert the risk of energy shortages, Berlin in July set a series of goals so that gas stocks reached 95% of capacity by November.

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