The association of gas storage system operators in Germany, INES, estimated on Tuesday in a statement that no gas shortages will take place for the following winter of 2023/24, or during the current winter.

"If current consumption reductions are held up, Germany will pull through the winter just fine. Even reduced LNG imports and a complete stop of Russian pipeline gas supplies to Europe will not induce gas shortages in this winter," INES Managing Director Sebastian Bleschke underlined.

The association explained that even if "extreme temperatures and additional risk factors" are accounted for, in present conditions, there will be no issues with refilling the country's gas storage facilities before winter 2023/24.