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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 17, 2025

    Featured image for article about Headlines

    FRANKFURT (Reuters) -Germany is not planning to set up a national gas reserve as its recent legislation changing required filling levels for the coming winters will encourage the private sector to ensure supply security, an economy ministry spokesperson said on Tuesday.

    Since the energy crisis following Russia's invasion of Ukraine in 2022, European Union countries have turned to increased storage to protect against supply disruption.

    Germany is mainland Europe's biggest gas consumer and last month German pipeline lobby group FNB proposed a new approach to gas storage, including a permanent national reserve.

    "There are currently no considerations by the economy ministry pertaining to this (a strategy storage)," the spokesperson said in a written reply to an enquiry by Reuters, adding supply was secure overall.

    Bloomberg reported on Tuesday that Germany was looking at whether to build up a strategic store of gas, citing unnamed sources.

    Germany's new coalition government aligned domestic rules with anticipated changes to European Union regulations that require gas storage facilities to be 80% filled by November 1 to ensure enough supply for the winter, giving more flexibility than the EU's previous 90% capacity filling requirement, among a range of other measures.

    German utilities operating gas storage facilities include Uniper, the SEFE group, VNG Gasspeicher and RWE.

    The German economy ministry is mindful that any additional state moves could drive up the costs for consumers, the spokesperson said.

    German gas stockpiles last stood at 45.8% vis-a-vis the EU's 53.8%, data from storage group GIE showed. The metric was well down from 76.8% a year ago.

    (Reporting by Vera Eckert, editing by Susan Fenton)

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