German gas consumption higher year on year again in week to Dec 22

German gas consumption was higher year on year for the second consecutive week in the week ended Dec. 22, the latest data from the country's energy regulator showed.

According to Bundesnetzagentur data, total consumption averaged 3.33 TWh/d, up 8% compared with the same week last year.

However, the data also showed that consumption was 17% down week on week and 11% lower than the pre-crisis average for the week in 2018-2021.

Gas consumption in Germany has stayed significantly below pre-crisis levels from 2022 through 2024, with demand spiking mostly during unseasonably cold weather and during low wind periods.

German gas-for-power demand has been relatively high in Q4 due to periods of low wind and solar power generation -- the so-called "Dunkelflaute" phenomenon.

In the week ended Dec. 22, industrial gas consumption -- including the power generation sector -- averaged 1.85 TWh/d, up from 1.46 TWh/d in the same week in 2023.

Household and small business gas use dropped by 10% year on year, however, to an average of 1.48 TWh/d.

In its update, the regulator said that while gas flows to Germany were stable, "economical" gas consumption remained important.

It also said it was "closely monitoring" international developments regarding gas supplies from Russia to Austria and the expected end of gas transit through Ukraine.

"The agency currently does not expect any impairment of the German gas supply," it said.

Gazprom Export halted gas supplies to Austria's OMV via Ukraine on Nov. 16 after OMV said it would recover an arbitration award from its payments for Russian gas.

However, gas has continued to flow via Ukraine at steady rates, suggesting the lost OMV gas is finding new homes in Europe.

All flows via Ukraine are set to end on Jan. 1 after the five-year gas transit deal between Russia and Ukraine expires at the end of 2024.

Price levels

The year-on-year fall in gas consumption levels in Germany came as European gas prices remained relatively high.

Platts, part of S&P Global Commodity Insights, assessed the benchmark Dutch TTF month-ahead price on Dec. 27 at Eur47.44/MWh.

Germany has also seen relatively strong withdrawals from its storage sites in recent weeks. According to data from Gas Infrastructure Europe, stocks are currently built to 81.1% of capacity.

Germany met its final gas storage target of 95% fullness for 2024 at the end of August, well ahead of its self-imposed Nov. 1 deadline.

However, industry group INES said last month that Germany's gas storage industry is increasingly concerned about refilling storage facilities next summer, with current price signals not providing sufficient incentive for injections.

Germany, which has the largest gas storage capacity in the EU, set strict storage targets in mid-2022, exceeding those agreed at the EU level.

The Gas Storage Act, effective until at least April 2027, requires Germany to fill its facilities to 85% by Oct. 1, 95% by Nov. 1, and to have stocks built to at least 30% by Feb. 1 each year.