4 minutes agoGermany, crisis plan in case of sudden gas supply disruption from Russia
Periskopi(4 years ago)
(4 years ago)German officials are preparing without a stir if Russia suddenly stops gas supply by drafting an emergency package, which could also predict the takeover of some critical companies. The news was reported to Reuters by three people aware of the issue. Preparations being led by the ministry [...]
Preparations led by the Ministry of Economic Affairs show growing concerns about the gas supply of Europe's largest economic power, a critical product for steel, plastic and auto production. Last year Germany secured 55% of its gas imports from Russia. Berlin is under pressure to enable “to free” from this business relationship that critics say is helping finance Russia's war in Ukraine.
Germany has indicated it is seeking to give up Russian imports, but expectations are that it is largely dependent on Moscow for gas by mid-2024.
It remains unclear whether there will be an immediate halt to the gas supply. Officials said Germany wants to avoid a escalation as a result of supporting a European embargo on Russian gas, while already supporting sanctions on Russian coal and oil.
But German officials are already afraid that Moscow can unilaterally cut off its gas supply and are trying to find ways to cope with such a situation.
Officials said details about a plan that will address this situation are currently under consideration.
The government is expected to support the granting of further loans and guarantees to support companies operating in the field of energy, helping them cope with rising prices, as well as to take under its wings, critical companies such as refinerys, the three officials said on the issue.
Asked for a comment on the measures, Germany's economy ministry officials noted statements by the head of this institution, Deputy Chancellor Robert Habeck, who has said the country had made intensive efforts in recent weeks to reduce Russian energy use.
Last month, Berlin adopted a legal amendment to allow energy companies to take control of as the last means to resolve the situation.
Two German officials said that it is currently being discussed how this measure can be used in practice, such as by taking control of the refinery “PCK”, operated by “Rosneft ROSN. Russia's MM”, located in the town of Schwedt near Poland.
It handles most of the remaining amount of Russian oil imported from Germany and could be hit by a European Union embargo.
The company “Rosneft” refused to comment on measures that German authorities could take.
