According to Uniper CEO Michael Lewis, can Germany still achieve its 70% gas storage target by November 1, and what condition is necessary for that?

Yes, Uniper CEO Michael Lewis stated that 'Germany can still reach its target of filling gas storage sites to 70% by Nov. 1 from its current low levels', but emphasized that 'we do have to see the market prices move to incentivize the filling of the storage.' He linked progress to price signals that encourage injection, noting that current forward gas prices are beginning to rise as markets start factoring in winter demand.

What is Germany's current gas storage level compared to the European average, and why is it unusually low?

Germany's gas storage sites are 'just over 48% full, compared with a European average of about 59%', making it the laggard in the region despite having Europe’s largest gas-storage capacity. The low level stems from entering the injection season 'with unusually low inventories after cold spells reduced storage levels to around 20%', compounded by elevated summer gas prices—driven by the war in the Middle East—which made summer stockpiling economically unattractive compared to winter procurement.

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