The head of the German Ministry of Economy fears a shutdown of the industry due to the cessation of Russian gas supply
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Germany may be forced to “shrink” or even turn off industrial capacity if the gas transit agreement between Ukraine and Russia is not extended, German Economy Minister Robert Habeck said. The agreement runs until the end of next year.
Mr. Habek urged to stop “repeating the same mistake” of not taking precautionary measures to secure power supply. He recalled the need to comply with the rules for the distribution of gas in Eastern Europe, which suggest that Germany will have to export gas there to make up the shortfall. As a result, deliveries to German manufacturers may be limited or reduced.
In his opinion, additional gas capacity will be needed to maintain supplies to both East Germany and Eastern Europe. “There is no safe scenario,” said Robert Habeck at an economic conference in East Germany (quoted in Bloomberg).
The agreement on the transit of Russian gas to Europe was signed by Ukraine and Gazprom at the end of 2019. It is valid until December 31, 2024.
The Washington Post wrotethat the Ukrainian authorities are lobbying for the preservation of the transit of gas and oil from the Russian Federation for fear of losing profits. However, the former head of the Austrian oil and gas company OMV, Gerhard Reuss declaredthat Kyiv will not renew the agreement with Gazprom. He spoke about this after talking with an unnamed deputy energy minister of Ukraine.
Details – in the material “Kommersant FM” “Ukraine is tearing transit threads”.
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