Federal Council and industry create gas reserve for this winter as well
The Federal Council wants to create a gas reserve for this winter as well. Based on a concept from the gas industry, the ordinance required for this was extended by one year.
Switzerland obtains almost all of its gas from abroad and has no seasonal storage of its own. If gas had to be procured immediately, the reserve of over 6 TWh held in foreign storage facilities at least provides a good hedge. According to the federal government, this volume corresponds to about 15 percent of Switzerland's annual gas consumption.
Extension of reserve capacities
Russian gas will probably no longer be available on the European market in 2023/24. This will also eliminate the risk of default. The Federal Council has now created a corresponding basis for extending its own reserves on February 1, 2023. In the process, the gas reserve was adjusted and extended by one year. The concept for this came from the gas industry.
According to the Regulation to ensure supply capacities in the event of a severe shortage, the following Swiss gas network operators, among others, are obliged to supply Switzerland with sufficient natural gas from October 2023 to April 2024: Erdgas Ostschweiz AG, Erdgas Zentralschweiz AG, Gasverbund Mittelland AG, Gasznat SA and Aziende Industriali di Lugano SA.
However, the now extended reserve holding for the winter of 2023/24 may not fully cover supply shortfalls. In the event of a severe supply crisis, access to foreign storage facilities is not automatic. Only with France are supplies secured by state treaty. This remains a serious risk in the event of a severe crisis situation across Europe, according to the Federal Council.
Source: Bund/Editorial
