The German government plans to allocate €1.5 billion to create a strategic natural gas reserve with a volume of 2.3 billion cubic meters. Reuters reported this, citing a source.

The reserve is intended to help the country ensure energy supplies in emergency situations, such as sabotage at energy infrastructure facilities or a sharp shortage on the global market. The Ministry of Economy is developing the plan. According to the agency, the project could be approved by mid-August.

The volume of such reserves will amount to about 2.3 billion cubic meters, which corresponds to approximately 10% of the total capacity of all existing gas storage facilities in the country. The creation of the reserve, as well as the purchase and injection of gas during 2027-2028, is estimated to cost €1.2-1.5 billion. The annual maintenance cost of the reserve will amount to €150-180 million.