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The German government is concerned about the halt in Russian gas shipments

The German government is concerned about the halt in Russian gas shipments

It’s hapik Ostdeutsches Wirtschaftsforum In his presentation at the conference, he stressed the need to take care to ensure energy supplies and urged policymakers not to make the mistake of assuming that the economy would not be affected again.

If the agreement to transport gas through Ukraine is not extended, Germany will have to export natural gas to Eastern Europe to make up for potential shortfalls, which could lead to supply restrictions or cutbacks for German producers.

Habeck acknowledged the uncertainty surrounding the future scenario and stressed the importance of additional capacity, including a planned LNG terminal on Germany’s northern coast, to maintain supplies to East Germany and Eastern Europe. However, opposition from local residents and environmental groups posed a challenge to the development of the LNG terminal.

An existing gas transfer agreement allows Russian gas to flow through Ukraine to countries such as Austria, Slovakia, Italy and Hungary, with Kiev getting a transit fee.

The Center for Global Energy Policy reports that an extension of the existing transit agreement on similar terms is unlikely due to a lack of political support. Direct negotiations between Ukraine and Russia to extend the contract are highly unlikely in the current environment.

Cover photo: Shutterstock.

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