(16 December 2021; updated 29 December 2021) According to aggregated storage inventory data, natural gas storage in Germany — the largest EU economy and the fifth largest economy in the world — averaged only 58% full in the first three weeks of December 2021. That is 23 percentage points below the ten-year December average for 2011 to 2020. On December 27, Germany's gas storage facilities were only 53% full. The daily average is trending downward as supplies are depleted, so the the final 2021 December average may be even further below the ten-year average for the month.
Amid tight supply and growing consumption, natural gas prices in Europe hit a new record in the end of December 2021. The current natural gas spot price in Europe is almost five times higher than the 10-year average price for 2011 to 2020.
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