Germany sees no gas supply crisis ahead of winter

Germany's Ministry for Economic Affairs and Energy said Thursday it does not expect gas shortages this winter, noting that storage levels of 60% to 70% would be sufficient for the heating season, while reserves in the country are currently around 50% full.

"A tight market situation with high prices does not yet constitute a supply crisis," the ministry said, referring to rising commodity prices linked to the blockade of the Strait of Hormuz and growing tensions in the region.

Economic Affairs and Energy Minister Katherina Reiche stressed that the government is preparing "necessary" measures, including monitoring imports, LNG availability and demand, that could be “effectively” deployed if the situation worsens.