Germany Plans $1.7 Billion Strategic Natural Gas Reserve

Germany is moving to create a state-owned strategic emergency reserve of natural gas to boost its energy security, the Economy Ministry of Europe’s biggest economy said on Tuesday. Earlier today, Reuters reported that the strategic government-owned reserve would require up to $1.7 billion (1.5 billion euros) to build the reserve and buy the gas to inject into the storage in 2027 and 2028. The emergency gas reserve would hold volumes of gas equivalent to nearly 10% of all the gas storage capacity in Germany. The funding for the reserve will…