Germany plans to halve Russian oil imports by summer

By the end of the year, according to Berlin's plan, Germany will become completely independent of Russian oil. Renunciation of Russian gas will be more difficult and longer, the process is planned to be completed in 2024 .jpg” alt=”Germany plans to halve Russian oil imports by summer” />

Germany expects to halve Russian oil imports by summer, and become independent of fuel supplies from Russia by winter, writes Spiegel with reference to the memorandum of Vice-Chancellor, Minister of Economy Robert Habek.

In the coming months, it is planned to reduce dependence on Russian oil by 25%, by the middle of the year— by 50%. “By the end of the year, we will strive to become practically independent,” — says the document.

In general, it says that Germany is rapidly reducing its energy dependence on Russia and expanding the geography of supplies. As for gas, Berlin hopes to achieve almost complete independence from Russian fuel by the summer of 2024, says Habek (Russia's share in this case will be 10% of the total supply).

Now 40% of gas comes from Russia bought by Germany. By the end of the year, this share could be reduced to 30%, but for this it is necessary to increase the production of hydrogen and the massive distribution of renewable energy sources, the Vice Chancellor believes.

To achieve these goals, Berlin is negotiating the lease of floating terminals and regasification facilities that can receive LNG and convert it into a gaseous form. In his note, Habek indicates that the government is now exploring the possibility of placing floating terminals in the North and Baltic seas. In this case, they can be used already next winter.

At the beginning of the week, Reuters, citing sources, reported that the European Union was preparing a fifth package of sanctions against Russia, including discussing the possibility of imposing an embargo on Russian oil. According to the agency, Lithuania insists on an oil embargo. Germany warns against quick action due to high energy prices in Europe.

On March 10, the European Commission presented a draft plan for an accelerated phase-out of Russian energy sources. It says that Europeans should strive to diversify their suppliers by increasing the volume of imported LNG, as well as increasing the production and import of biomethane and “clean” gas. hydrogen. There is also a need to rapidly move away from fossil fuels for heating homes and industries. If the EC plan succeeds, the EU's dependence on Russian gas could be reduced by two-thirds by the end of 2022.

Russia believes that Europe will have nothing to replace Russian gas in the coming years. “Judge for yourself: as for the gas industry, we supply about 200 billion cubic meters. m of gas with Europe's consumption of 500 billion cubic meters— almost 60% of exports. There is definitely nothing to replace this in one year, or in three, or in five years, — explained Deputy Prime Minister Alexander Novak. In his opinion, the EU's complete rejection of Russian energy carriers— this is an “apocalyptic scenario”.

Commenting on Europe's plans to refuse Russian oil supplies, Novak warned that in this case, world prices could jump to $300 per barrel.

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