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Despite sanctions: Russia reports steady gas deliveries to Europe

2022-03-01T11:18:44.616Z


Despite Western sanctions, Russia says it is continuing to pump gas through Ukraine to Europe. The federal government is planning "a real national effort" to end energy dependency soon.


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Workers at a gas station in Ukraine (archive photo): Russia claims to be a reliable supplier

Photo: Pavlo Palamarchuk/AP

Punitive measures have been taken against Russian President Vladimir Putin and banks, and Western companies are turning their backs – but despite the war in Ukraine, Russia continues to play a crucial role in supplying Europe with energy.

The Interfax news agency, citing data from the Russian state-owned company Gazprom, has now reported that natural gas is still flowing through the transit pipelines in Ukraine to Europe.

Interfax reported that utilization of the pipeline remained at a high level.

Accordingly, 109.3 million cubic meters of gas should be delivered to Europe on Tuesday, slightly more than on Monday.

The issue of gas supplies is sensitive.

On the one hand, the West wants to isolate the Russian government as much as possible economically and politically.

On the other hand, countries fear for their energy supplies if Russia cuts off the gas supply because of the unprecedented sanctions against the country.

The USA, France, Canada, Italy, Great Britain, Germany and the EU Commission have decided to exclude individual Russian banks from the Swift international banking communication system.

The institutes can then no longer process payments with foreign banks in the conventional way.

This means that practically no deliveries of goods can be paid for.

But gas and oil will continue to flow for the time being, as the majority of these transactions are conducted through Gazprombank, a subsidiary of the state-owned energy company.

Which, in turn, has been exempt from most sanctions so far.

The federal government now wants to achieve independence from Russian oil, gas and coal supplies as quickly as possible.

For this purpose, a forced complete conversion of electricity generation to renewable energies is planned, said the State Secretary in the Ministry of Economic Affairs, Franziska Brantner, on Deutschlandfunk.

"We have now put the first draft laws for the Easter package in the departmental vote and yes, we are planning a real national effort to advance renewables more quickly, to get them into the area," said the Green politician.

The “Frankfurter Allgemeine Zeitung” had reported, citing a paper from the Ministry of Economic Affairs, that electricity in Germany should now “come almost entirely from renewable energies” by 2035 instead of by 2050.

"It's not just a question of climate protection, but really of security, so we have to give everything," said Brantner.

Such investments should become more financially attractive for municipalities, companies and other stakeholders.

»We will now get this started together in the coalition.«

EU refers to oil reserves

Meanwhile, according to Federal Minister of Economics Robert Habeck, the EU and the USA are examining the use of national oil reserves as a reaction to the Ukraine war and rising prices.

"We are considering using the national oil reserves in a concerted action together with the Americans in such a way that prices are dampened if they continue to rise," said the Green politician before leaving for the United States after a meeting of EU energy ministers in Brussels .

EU Energy Commissioner Kadri Simson referred to existing stocks.

“We have a robust strategic oil reserve system.

Member States have at least 90 days' worth of oil,” she said.

This reserve can be released in whole or in part in the event of clear supply disruptions.

This has only happened three times so far: during the Gulf War, during Hurricane Katrina and during the Libyan war.

With reference to the Ukraine war and because large oil pipelines flow through Ukraine, one must be ready for such a release at any time.

Certainly until autumn

The Energy Commissioner assured that the energy reserves of the EU would initially be secured even if the supply of Russian gas was stopped.

"It is our current assessment that the EU can safely get through this winter," said Simson.

Gas is currently still flowing from east to west, at the same time imports of liquefied natural gas (LNG) have increased and the weather forecast is good.

EU countries consume less gas from their storage facilities, which are still around 30 percent.

mmq/dpa/Reuters

Source: spiegel

All business articles on 2022-03-01

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