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Finance

German gas hub, industry in talks about loosening storage rules, Uniper says

Published by Global Banking and Finance Review

Posted on February 25, 2025

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FRANKFURT (Reuters) - Germany's gas hub Trading Hub Europe (THE) and industry representatives are in talks with the German government on loosening rules on the country's gas storage filling levels, a Uniper official said on Tuesday.

"We are talking to THE," said chief commercial officer Carsten Poppinga at an earnings press conference, adding that among the proposals under discussion was loosening storage targets of 90% to perhaps 80% by November 1.

Speculation that Germany may ask the state-mandated THE to refill caverns with the help of subsidies had driven up European gas prices in recent weeks, prompting policymakers more flexibility in terms of filling requirements.

(Reporting by Christoph Steitz and Vera Eckert, editing by Friederike Heine)

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