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Gas crisis: Economics Grimm warns of gas shortages due to increasing consumption


Prices down, heating up: more gas could soon be consumed again in Germany. Economics Veronika Grimm prophesies: The situation will remain tense until next winter.

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Floating LNG terminal in Schleswig-Holstein: Sufficient capacities for importing liquid gas are not expected until next year

Photo: Marcus Brandt / dpa

Economics Veronika Grimm warns of gas shortages due to increasing consumption.

It is "imaginable" that, due to the fall in wholesale prices, industry in particular will consume significantly more gas again - and "that would be associated with dangers in the current situation," Grimm told the "Neue Osnabrücker Zeitung".

»Up until the coming winter, the top priority must be to maintain a buffer in order to be able to react to a tighter supply situation.

Under certain circumstances, the federal government must also set incentives so that gas savings continue.«

Chinese demand returns

With the end of the corona lockdown in China, demand is also coming back from there, Grimm said.

This is one of the reasons why the coming winter will “definitely be challenging”.

Grimm added that it was not until next year that the capacities for importing liquid gas would be sufficient to ease the situation.

Even then, however, prices would “level out at a higher level than before the crisis”.

Gas consumption in the Federal Republic fell sharply in the crisis year 2022.

According to the Federal Network Agency, natural gas consumption has fallen by 14 percent compared to the average over the past four years.

Industry saved 15 percent compared to previous years, private households and businesses reduced their consumption by twelve percent.

The mild temperatures also played an important role.

Gas prices skyrocketed after the Russian invasion of Ukraine.

This had led to distortions in the energy market, including the gas importer Uniper had to flee into the arms of the state.

Norway replaced Russia as the main gas supplier.

Gas imports from Russia ended in September after explosions occurred on the two Nord Stream pipelines for reasons not yet understood.


Source: spiegel

All business articles on 2023-01-28

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