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From the Market Ear:
Where does Germany stand today?
Data from the regulator on Sept 2nd shows Germany has been doing well, storage is currently at 84.26%. German legislation set out in July cited that levels must be 85% on Oct 1st and 95% on Nov 1st and the min level of storage on Feb 1st 2023 should be 40%. As you can see from below, hitting the 40% in Feb 2023 is going to be a colossal challenge.
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How much demand has Germany cut so far?
In H1 2022 Germany used nearly 15% less gas.
Halt
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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