Germany loosened valves // Gas consumption cut is behind schedule
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The continued decline in gas prices and a relatively cold spring prevent Germany, once the largest consumer of Russian raw materials, from maintaining the desired rate of reduction in gas use. So, according to the German regulator, last week consumption was only 3.5% below the average level in 2018-2021, while the target is a reduction of 20%. A gradual recovery in consumption and expectations of even lower gas prices in the summer have also brought gas storage to a virtual halt.
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