Germany plans two LNG terminals as Russia crisis deepens
Government acts to shore up energy supplies with new gas sources but insists policy dovetails with net-zero transition
Germany will “rapidly” build two LNG import terminals and bolster its strategic reserves of both gas and coal as it looks to secure its energy supplies amid the crisis triggered by Russia’s invasion of Ukraine, Chancellor Olaf Scholz said on Sunday. The government said in late February that it would not certify the Nord Stream 2, which runs from Russia directly to Germany, in response to the invasion. Germany imports about 60pc of its natural gas from Russia. “We will change course in order to eliminate our dependence on imports from individual energy suppliers,” Scholz says. “After all, the events of recent days and weeks have shown us that responsible, forward-looking energy policy is not

Also in this section
12 February 2025
The oilfield expansion provides a fresh influx of revenue but will strain its cooperation with OPEC+ and fails to mask deeper issues with the economy and investors
11 February 2025
Improving compliance among the group and wider group is offset by production increases in outliers Libya, Venezuela and Iran
10 February 2025
The country wants to kickstart its upstream but first needs to persuade investors to foot the bill
10 February 2025
The February 2025 issue of Petroleum Economist is out now!