Germany's gas and hydrogen storage association (INES) warned on Tuesday that the country's gas storage facilities are at historically low levels as summer heat fades and winter approaches.

In a paper presented in Berlin, INES said reserves stood at 53% of capacity as of early September, the lowest level for this time of year in the past 15 years.

The lobby group said levels could be raised to 77% by November, but only if input is dramatically increased. INES stated that 77% capacity would suffice for consumer and industry needs under normal winter temperatures, but added, "77% capacity will not be enough in the event of extremely cold temperatures."

With profit margins minimized by the wars in Russia and Iran, traders have little financial incentive to store natural gas, according to INES. Storage facility operators are therefore calling on the German government to lower storage fees.

The Federal Ministry of Economy, however, sees no reason for panic, noting that new LNG terminals off the German coast and pipeline deliveries from Norway can easily cover any potential shortages.

Meanwhile, the fallout from the far-right Alternative for Germany (AfD)'s victory in the Saxony-Anhalt state election continues. Chancellor Friedrich Merz, expressing "deep shock," has vowed to stay in office and push ahead with his reform program.

Several thousand protesters turned out across the country to voice opposition to the far-right party, which nearly half of Germans say should not be allowed to form a state government.

Source: www.dw.com