The Federal Minister of Economics commented on the Russian counter-sanctions.
(Photo: dpa)
Berlin According to Federal Economics Minister Robert Habeck, the Russian counter-sanctions against Gazprom Germania mean that around ten million cubic meters less gas is being delivered to Germany every day. This gas can be obtained elsewhere. “We will not declare the alert level today,” said Habeck. This is only intended if significant quantities do not reach Germany. It stays at the early warning level.
The Gazprom-Germania subsidiaries have to sign new supply contracts at potentially higher prices, Habeck said. “In order for these prices to be paid, financial guarantees are needed. And we will give it.”
The Federal Network Agency also gave the all-clear: The supply is stable and the security of supply continues to be guaranteed, according to the authority’s daily situation report. Gas quantities missing due to sanctions are currently being procured in full via the European gas market.
Overall, the gas flows to Germany are almost unchanged, the report goes on to say. However, a moderate increase in wholesale prices has been recorded, but the increase is within the range of fluctuation of the past few weeks.
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On Thursday night, Russia imposed sanctions on Gazprom Germania and other former subsidiaries of its state-owned gas company. With a total of 31 listed companies, no more business should be done from the Russian side, it said. Gazprom Germania was placed under German state control in early April.
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The Federal Government and the Federal Network Agency as trustee of Gazprom Germania are preparing for various scenarios. “The gas crisis team is closely monitoring the current situation. The security of supply is currently guaranteed and is constantly being checked,” said a spokeswoman for the Federal Ministry for Economic Affairs and Climate Protection.
Gazprom Germania owns other important companies in the German gas industry. These include the gas trader Wingas, which supplies public utilities, among other things, and the gas storage operator Astora. They are also affected by the Russian sanctions. According to the Russian agency Interfax, the creation of stocks of Russian gas in Europe’s storage facilities will be banned in the future. It was initially unclear how such a ban would be enforced.
The affected companies in Germany, other EU countries, the USA and Great Britain were subject to western sanctions in the course of the Russian war of aggression against Ukraine.
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