Germany will follow through on plans to develop two LNG terminals and increase natural gas reserves to reduce its reliance on Russian gas following Russia’s invasion of Ukraine, according to Chancellor Olaf Scholz.
“We will do more to ensure secure energy supply for our country,” he told lawmakers in a special Bundestag session called to address the Ukraine crisis.
“We must change course to overcome our dependence on imports from individual energy suppliers.” read more
Other Western countries have pressed Germany to reduce its reliance on Russian gas, but the country’s plans to phase out coal-fired power facilities by 2030 and close its nuclear power reactors have left it with few choices.
In reaction to Russia’s actions toward Ukraine, Germany stopped the $11 billion Nord Stream 2 Baltic Sea gas pipeline project, Europe’s most controversial energy project.
Since then, Russia has invaded Ukraine, causing the West to impose more sanctions on Moscow and exacerbating the oil supply crisis.
“The events of the past few days have shown us that responsible, forward-looking energy policy is decisive not only for our economy and the environment. It is also decisive for our security,” Scholz said on Sunday.
He believes that the faster Germany can boost renewable energy output, the better.
He also stated that Germany will enhance the volume of natural gas in its storage facilities by 2 billion cubic metres (bcm) through long-term options and will purchase extra natural gas on international markets in conjunction with the European Union.
According to statistics from industry association Gas Infrastructure Europe, Germany has 24 bcm of underground gas storage caverns, which are now roughly 30 per cent filled.
Scholz also stated on Sunday that Germany would develop two LNG terminals in Brunsbuettel and Wilhelmshaven as soon as possible.
When he was finance minister and deputy chancellor in the previous government, he expressed support for LNG terminal building, but little progress was accomplished.
(Adapted from SPGlobal.com)