Germany to Completely Stop Buying Russian Coal on 1 August and Russian Oil on 31 December

Related Articles

Eight OPEC+ Members Extend Oil Supply Cuts until Year-End

9 hours ago

Oil Prices Spike after OPEC+ Delays Production Cut Decision

9 hours ago

Belgium is Building World’s First Artificial Energy Island in the North Sea

9 hours ago

Germany will stop buying Russian coal on 1 August and Russian oil on 31 December, Deputy Finance Minister Jörg Kukies said at a conference in Sydney, Reuters reported.
Kukies said the key challenge going forward will be filling the huge gap that will remain when the European Union gives up the 158 billion cubic meters of gas a year that Russia supplies.
Russia previously supplied Germany with 40 percent coal and 40 percent oil.
Germany is rapidly developing liquefied natural gas (LNG) import terminals to help fill the gas supply gap, but Kukies said that while the United States and Qatar can together supply about 30 billion cubic meters of gas in the form of LNG to Europe, there is still a huge gap.
Although Germany has focused on the transition to zero-emissions and recently passed legislation to accelerate the development of renewable energy projects, gas will be essential to the transition, he said.