German gas supply is secure despite low storage levels, VNG chief says

By Nora Buli

OSLO, Sept 28 (Reuters) - Germany is heading into winter with unusually low natural gas stocks, but faces no immediate supply risk thanks to a broader and more resilient import portfolio than during the 2022 energy crisis, the CEO of German gas importer VNG said.

German gas storage sites are only 57% full, well below the European average and a historic low for late September, raising concerns about energy security in Europe's largest economy.

"Compared to 2022, the system is much more robust overall. We have more access to liquefied natural gas (LNG) and we have broadened our overall position in terms of sources of supply," Ulf Heitmueller told Reuters in an interview.

Leipzig-based VNG, majority-owned by utility EnBW, procured 409 terawatt hours (TWh) of gas in 2025, making it one of Germany's largest importers. The company also operates pipelines and storage facilities.

VNG receives pipeline gas from Norway and has secured contracts for deliveries from Algeria and Azerbaijan, suppliers that have gained importance for Europe since Russian pipeline deliveries collapsed after Moscow's invasion of Ukraine.

"We have set up our portfolio in such a way that we are able to meet our delivery obligations to our customers even in the event of a cold winter," Heitmueller said.

While gas storage is part of ensuring security of supply, he pointed out that it is not the only decisive factor.

Still, additional import losses, a global energy market shortage or infrastructure disruptions, possibly in combination with colder weather, could see prices spike this winter, he said.

European gas prices have more than doubled this year to around 75 euros per megawatt hour (MWh) after the closure of the Strait of Hormuz amid the Iran conflict curtailed global LNG supplies.

Last week EU energy commissioner Dan Jorgensen warned that the bloc is facing an energy price crisis this winter and urged member states to continue efforts to fill storage and reduce demand.

The German government has resisted calls to intervene directly to boost storage injections, but has supported the launch of tenders for backup gas supplies for the first quarter of 2027.

Heitmueller welcomed the move, saying it provided incentives to store gas without distorting the market.

He also backed plans under discussion in Berlin for a strategic gas reserve to protect against extreme supply shocks that markets alone may struggle to manage.

(Reporting by Nora Buli; Editing by Christina Fincher)