Germany to step up plans to cut dependence on Russia gas
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Wednesday
July 06, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
WEDNESDAY, JULY 06, 2022
Germany to step up plans to cut dependence on Russia gas

World+Biz

Reuters
27 February, 2022, 08:10 pm
Last modified: 27 February, 2022, 08:11 pm

Related News

  • Fierce shelling in eastern Ukraine as NATO heralds its 'historic' expansion
  • Blinken to seek G20 pressure on Russia to open sea lanes, warn China on Ukraine
  • Multiple Russian strikes kill at least two in Ukrainian city of Sloviansk - officials
  • Ukraine now says no troops yet on recovered Snake Island to raise its flag
  • Russian Duma speaker: Ukraine pushing Moscow to expand its military goals - RIA

Germany to step up plans to cut dependence on Russia gas

Germany has been under pressure from other Western nations to become less dependent on Russian gas, but its plans to phase out coal-fired power plants by 2030 and to shut its nuclear power plants have left it with few options

Reuters
27 February, 2022, 08:10 pm
Last modified: 27 February, 2022, 08:11 pm
A woman cleans the inside of an exhibit representing a natural gas pipeline at the booth of Nord Stream during final preparations at the "Hannover Messe" industrial trade fair in Hannover April 15, 2007. REUTERS/Christian Charisius/File Photo
A woman cleans the inside of an exhibit representing a natural gas pipeline at the booth of Nord Stream during final preparations at the "Hannover Messe" industrial trade fair in Hannover April 15, 2007. REUTERS/Christian Charisius/File Photo

Germany will make good on plans to build two liquefied natural gas (LNG) terminals and up its natural gas reserves to cut its dependence on Russian gas after Russia's invasion of Ukraine, Chancellor Olaf Scholz said on Sunday.

"We will do more to ensure secure energy supply for our country," he told lawmakers in a special Bundestag session called to address the Ukraine crisis.

"We must change course to overcome our dependence on imports from individual energy suppliers."

Germany has been under pressure from other Western nations to become less dependent on Russian gas, but its plans to phase out coal-fired power plants by 2030 and to shut its nuclear power plants have left it with few options.

Earlier this week Germany halted the $11 billion Nord Stream 2 Baltic Sea gas pipeline project, Europe's most divisive energy project, in response to Russia's actions toward Ukraine.

Russia has since invaded Ukraine, prompting the West to slap further sanctions on Moscow and making the energy supply issue even more pressing.

"The events of the past few days have shown us that responsible, forward-looking energy policy is decisive not only for our economy and the environment. It is also decisive for our security," Scholz said on Sunday.

The quicker Germany can expand renewable energy generation, the better, he said.

In addition, Germany will increase the volume of natural gas in its storage facilities by 2 billion cubic metres (bcm) via long-term options and will buy additional natural gas on world markets in coordination with the European Union, he said.

Germany has 24 bcm of underground caverns of gas storage, which are currently around 30% full, according to industry group Gas Infrastructure Europe data.

Scholz also said on Sunday that Germany would quickly build two LNG terminals, in Brunsbuettel and Wilhelmshaven.

He had signalled his support for the construction of LNG terminals when he was finance minister and deputy chancellor in the previous government, but little progress was made.

Top News

world / Germany gas dependency / Ukraine / Ukraine crisis / Russia-Ukraine war

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: TBS
    Probe committee finds owners, management authority of BM Depot to be ‘negligent’
  • FBCCI for electricity rationing to keep production uninterrupted
    FBCCI for electricity rationing to keep production uninterrupted
  • British Prime Minister Boris Johnson speaks during a joint news conference with German Chancellor Olaf Scholz in the Downing Street briefing room, following a bilateral meeting at Downing Street, in London, Britain, April 8, 2022. Ben Stansall/Pool via REUTERS
    More than 20 lawmakers quit government jobs protest at UK PM Johnson's leadership

MOST VIEWED

  • A general view shows the hemicycle as French Prime Minister Elisabeth Borne delivers her general policy speech at the National Assembly in Paris, France, July 6, 2022. REUTERS/Benoit Tessier
    Cost of living a priority, French PM says, urging opposition to help vote reforms
  • Smoke rises after shelling during Ukraine-Russia conflict in Donetsk, Ukraine July 6, 2022. REUTERS/Alexander Ermochenko
    Russian advance on Ukraine's Donetsk region thwarted so far, Kyiv says
  • Somali displaced girl Sadia Ali, 8, drinks water from a tap at the Kaxareey camp for the internally displaced people in Dollow, Gedo region of Somalia May 24, 2022. Picture taken May 24, 2022. REUTERS/Feisal Omar/File Photo
    World hunger rising as UN agencies warn of 'looming catastrophe'
  • Security officers inspect items suspected to be explosives outside the medium-security prison in Kuje, near the capital Abuja, Nigeria July 6, 2022. REUTERS/Afolabi Sotunde
    Some 440 inmates on run after suspected Boko Haram raid on Nigeria prison
  • Russian lawmakers attend a session of the State Duma, the lower house of parliament, in Moscow, Russia July 5, 2022. Photo: Reuters
    Russia's parliament passes sweeping wartime economic controls
  • Representation of the virtual currency Bitcoin is seen on a motherboard in this picture illustration taken April 24, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
    India's cryptocurrency industry reels as new tax hammers trading

Related News

  • Fierce shelling in eastern Ukraine as NATO heralds its 'historic' expansion
  • Blinken to seek G20 pressure on Russia to open sea lanes, warn China on Ukraine
  • Multiple Russian strikes kill at least two in Ukrainian city of Sloviansk - officials
  • Ukraine now says no troops yet on recovered Snake Island to raise its flag
  • Russian Duma speaker: Ukraine pushing Moscow to expand its military goals - RIA

Features

The sea beach in Kuakata. Photo: Syed Mehedy Hasan

Five places in Southern Bangladesh you could visit via Padma Bridge

11h | Explorer
Genex Infosys Limited is the country's largest call centre with more than 2,000 seats and full-set equipment. Photo: Courtesy

How domestic demand made Genex Infosys a BPO industry leader

12h | Panorama
The OPEC+ group of 23 oil-exporting countries met virtually on Thursday. Photo: Bloomberg

OPEC+ did its job, but don’t expect it to disappear

1d | Panorama
Mirza Abdul Kader Sardar with AK Fazlul Haque, Chief Minister of Bengal, at Haque's reception at the Lion Cinema, Dhaka, 1941. Photo: Collected

Panchayats: Where tradition clings to survival

1d | Panorama

More Videos from TBS

Behind the story of 'Aske Amar Mon Bhalo Nei'

Behind the story of 'Aske Amar Mon Bhalo Nei'

33m | Videos
Is Donbas Putin’s next target?

Is Donbas Putin’s next target?

3h | Videos
Hajj Journey: it took more than one year to complete the Hajj

Hajj Journey: it took more than one year to complete the Hajj

4h | Videos
Photo: TBS

Cristiano Ronaldo looking for a new challenge

10h | Videos

Most Read

1
Photo: Collected
Africa

Uganda discovers gold deposits worth 12 trillion USD

2
TBS Illustration
Education

Universities may launch online classes again after Eid

3
Meet the man behind 'Azke amar mon balo nei'
Splash

Meet the man behind 'Azke amar mon balo nei'

4
Build Dhaka East-West Elevated Expressway, relocate kitchen markets: PM
Bangladesh

Build Dhaka East-West Elevated Expressway, relocate kitchen markets: PM

5
File Photo: BSS
Energy

India pulls out of LoC funding for part of Rooppur power transmission work

6
Illustration: TBS
Interviews

‘No Bangladeshi company has the business model for exporting agricultural product’

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab
BENEATH THE SURFACE
A customer checks a knife at a blacksmith’s shop at the capital’s Karwan Bazar. Knives and other Qurbani tools are in huge demand as the country prepares to celebrate Eid-Ul-Azha. Photo: Rajib Dhar

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net