Equinor: Germany's Diversified Gas Imports Can Secure Winter Supply, but Costs Rise Significantly

en.Wedoany.com Reported - On September 8, Irene Rummelhoff, Executive Vice President for Marketing, Midstream and Processing at Equinor, stated at the German-Norwegian Energy Conference in Oslo that although Germany's gas storage facilities are currently only about 53% full—the lowest level for this time of year in 15 years—the diversified import system established since 2022 will still enable Germany to attract and import the natural gas it needs from the international market this winter. She also noted that supply volumes and prices must be assessed separately, and that while Germany will secure sufficient gas, it must also prepare for higher prices.

Germany's natural gas import structure has changed significantly over the past few years. According to data from Germany's Federal Network Agency, Germany imported a total of 1,031 TWh of natural gas in 2025, with Norway accounting for 44%, making it the largest supply source; the Netherlands and Belgium accounted for 24% and 21%, respectively. Germany imported 106 TWh of natural gas through LNG terminals such as Wilhelmshaven, Brunsbüttel, Lubmin, and Mukran, representing 10.3% of total annual gas imports. The Federal Network Agency also noted that approximately 96% of Germany's LNG imports in 2025 came from the United States.

The latest monitoring results published by Germany's Federal Network Agency on September 8 show that the country's natural gas supply remains stable, supply security is ensured, and the risk of supply shortages is still assessed as low. The regulator is continuously monitoring cross-border gas flows and storage levels, with particular focus on the 30% storage target for February 1, 2027. Germany's current gas storage regulations require most storage facilities to reach 80% capacity by November 1, while designated facilities such as Bad Lauchstädt, Frankenthal, Hähnlein, Rehden, Stockstadt, and Uelsen are subject to a 45% target.

Current inventory levels remain a source of uncertainty for winter supply. In early September, Germany's gas storage fill rate stood at approximately 53%, the lowest level for this period in 15 years; the German gas storage industry association INES believes that if extreme low temperatures occur during the 2026/2027 winter, Germany still faces a risk of gas supply shortfalls. Germany's economic regulatory authorities have concurrently assessed that, as long as pipeline gas and LNG import capacities remain available, Germany will be able to meet winter gas demand even if the national storage level is only 60% to 70% at the start of winter, and therefore no government intervention is currently needed to mandate higher storage levels.

Pressure on the price front has already increased markedly. The European Dutch TTF front-month gas contract has risen to its highest level since January 2023. Recent conflict between the United States and Iran has affected Qatari LNG exports through the Strait of Hormuz, intensifying competition between European and Asian buyers for alternative LNG supplies. Rummelhoff stated that Germany's diversified import sources enhance its ability to secure gas, but prices will become another issue that needs to be addressed.

Equinor has also secured new contractual arrangements for long-term supply to Germany. On August 24, Equinor signed a 15-year gas supply agreement with Uniper, providing for annual deliveries of more than 30 TWh of natural gas—equivalent to approximately 2.8 billion cubic meters—to Germany from 2027 to 2041, with delivery at Germany's Trading Hub Europe gas market area. Germany is Equinor's largest gas market, and the contract will commence on January 1, 2027.