The ongoing conflict in Ukraine is posing significant difficulty for Germany which is reliant on Russia for gas supply.
An article published by Bloomberg stated that Germany has ‘little time to lose to avert an energy shortage this winter that would be unprecedented for a developed nation.:
Although much of Europe is feeling the strain from Russia’s squeeze on natural gas deliveries, in Germany nearly half the homes rely on the fuel for heating.
The report said the Russian government is likely to keep vital gas flows to Europe at minimal levels which means shortages for the are likely to continue. Gas prices for every year through 2025 having already hit a record this year.
“Rationing and recession are looming for Germany, and authorities have voiced concern about social unrest if the energy shortage spins out of control. The country can’t even count on France, where faulty nuclear reactors are compounding the gas crunch. Electricity prices in Europe’s two-biggest economies surged to records last week.
An article by Energy Live News reported that Germany has ruled out putting Nord Stream 2 into operation this winter, continuing its stance to block the operation of the new gas pipeline in response to Russia’s invasion of Ukraine.
Read the full Bloomberg article here.
Read the Energy Live article here.
