Germany has stopped importing Russian coal from August, and oil imports from December 31st. So much remains without gas….
Germany will stop importing Russian coal from August 1 and crude oil from December 31, the country's deputy finance minister Joerg Kukies said today, as reported by Reuters .
"We will get rid of Russian coal in a few weeks," Kukies told the Sydney Energy Forum, which is taking place this week.
"Anyone who knows the history of the Druzhba pipeline, which was already an instrument of the Soviet empire on Eastern Europe, will get rid of this dependence is not a trivial matter, but we will reach it in a few months," he added.
However, Kukies conceded that replacing Russian hydrocarbons, not only in Germany, will not be an easy task, citing the fact that together, the US and Qatar could only supply around 30 billion cubic meters of natural gas equivalent to Europe, which it imports. more than 150 billion cubic meters of Russian gas per year.
Despite the challenge, Germany is rushing to build LNG import terminals in order to at least partially replace Russian gas imports with liquefied gas from abroad. The problem, however, is the reduction in supplies, with Freeport LNG in the United States out of service until at least September and Shell's Prelude in Australia closed due to industrial action.
Demand for gas in Germany and Europe as a whole remains strong as governments try to fill their gas deposits ahead of the next heating season. Germany, in particular, is on high alert after Gazprom shut off the flow of gas through the Nord Stream 1 pipeline this week for regularly scheduled maintenance. It is feared that it will not reopen the taps once the maintenance is finished.
The suspension of coal and oil purchases from Russia is the result of sanctions the EU imposed on Moscow earlier this year, providing commodity buyers with a six-month time buffer for each, in so as to be able to stock up on coal and oil before the respective embargoes come into effect.
Thanks to our Telegram channel you can stay updated on the publication of new articles of Economic Scenarios.
The article Germany stops imports of Russian coal from August, and oil from December 31st. So much remains without gas…. comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-germania-ferma-limport-di-carbone-russo-da-agosto-e-di-petrolio-dal-31-dicembre-tanto-rimane-senza-gas/ on Wed, 13 Jul 2022 16:02:45 +0000.