German Economy Minister Robert Habeck has announced the end of the country’s energy crisis, according to Komersant ukrainskyi
with reference to Bild.
Answering citizens’ questions about the energy situation, the minister said: “There is no longer a shortage of Russian gas. There is no longer a gas shortage”.
Habeck stressed that gas storage facilities are full and all the necessary requirements have been met. However, his statements were surprising to many, as Germany is still officially on high alert as part of its gas contingency plan. This state was declared in June 2022, after the full-scale Russian invasion of Ukraine.
Despite the fact that there have been no interruptions in energy supply, gas prices remain significantly higher than pre-war levels. Habek explained that the price increase in the summer was caused by high temperatures in Asia and Europe, which led to “air conditioners running at full capacity”. In his opinion, this demonstrates how global warming is affecting price increases in unexpected areas.
According to the minister, he expects gas prices to decline in the future due to an increase in the supply of liquefied natural gas (LNG), although they will remain at a moderately higher level compared to pre-COVID-19 prices. Habek explained that LNG is more difficult to transport than gas through pipelines.
Europe and gas
As of the beginning of 2022, the EU was 40% dependent on Russian gas. In 2021, 65% of the gas purchased by Germany was Russian. In the third quarter of 2023, only 12% of the gas imported by the EU remained Russian.
The current contract for gas supplies to Europe through the Ukrainian gas transmission system expires in December 2024. Both sides have made it clear that they are not going to extend it.
At the same time, some EU countries remain dependent on Russian gas, such as Hungary, Slovakia and Austria. These countries’ contracts with Gazprom provide for gas supplies through the Ukrainian gas transmission system. For example, Austria signed a contract for gas supplies until 2040.
After both Nord Stream and the Ukrainian GTS are shut down, Russia will be able to supply gas to Europe only through the Turkish Stream.
The media are also actively spreading information that Ukraine has already agreed with Hungary and Azerbaijan to transport “Azerbaijani” gas, which will in fact be Russian.
According to the Centre for Research on Energy and Clean Air (CREA), since the beginning of the full-scale Russian invasion, the European Union has bought 194 billion euros worth of energy from Russia.