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Gas: Germany goes on alert level in the face of the drying up of Russian flows

Gas: Germany goes on alert level as Russian flows dry up

UPGRADE DAY

Germany on Thursday activated the “alert level” of the plan to secure its gas supply that brings the country closer to rationing measures, in the wake of the 60% drop in deliveries of Moscow via the Nord Stream gas pipeline. 

“We are in a gas crisis. Gas is now a rare resource,” said Minister of the Economy Robert Habeck at a press conference.

The government will be able to “support” market players in this context to deal with at high prices.

This is the second stage of the device on the supply of German gas, activated last March, following the invasion of Ukraine by Russia.

The third and final stage of this plan based on a model of the European Union, the “emergency level”, would allow the State to organize rationing in order to distribute the volumes between individuals, administrations, industry.

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The decision follows the 60% drop since last week in gas deliveries via Nord Stream to Germany from the Russian group Gazprom, which claims a technical problem.

But for the German government, it is a “political decision”, intended to weigh in the showdown between Moscow and Western countries over the war in Ukraine.

This decision had a heavy impact on several European countries, in particular Germany, Italy and France.

Admittedly, reserves in Germany currently stand at 58%, a level “above the average of recent years”.

But if deliveries via the Nordstream gas pipeline “remain at a low level”, the “90% storage level”, recommended by German law, will “not be reached “, according to the ministry.

That is why “we must take all the necessary measures to ensure our supply” in anticipation of next winter, said Robert Habeck.

Already Germany announced on Sunday its decision to use more coal to save gas, which represented 15% of the electricity produced in 2021.

Berlin also announced the opening of a line credit of fifteen billion euros the public bank KfW to finance the purchase of gas, whose prices have soared, by the actor responsible for purchases for Germany magne, Trading Hub Europe.

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