Germany’s most important supplier does not consider the gas supply crisis to be over yet

Berlin Norway’s Economics Minister Jan Christian Vestre sees considerable imponderables with regard to the gas supply: “It is still too early to say whether the European gas supply crisis is over,” Vestre told the Handelsblatt. He said he was “joyed” to see how Germany and Europe as a whole managed to convert the gas supply and acquire new gas supplies last year.

However, it is difficult to predict whether the energy supply crisis has really been overcome. “It’s impossible to predict with certainty how demand and prices will evolve,” he said. Following the loss of most Russian gas supplies last year, EU countries faced the challenge of replacing around a third of their imports. With regard to Germany, the share of Russian deliveries was more than 50 percent.