Germany’s long way to get rid of dependence on Russian gas

According to the report of Fars News Agency’s International Economy reporter, citing the Bundestag, the evaluations of the German Ministry of Economy show that the country has a long way to go to eliminate its dependence on gas imports from Russia.

According to published documents, Germany will import 55 billion cubic meters of gas from Russia in 2021, and the capacity of LNG facilities in this country will not reach 50 billion cubic meters before 2026 to stop dependence on Russian gas.

Forecasts indicate that by 2023, the capacity of projects related to the establishment of LNG gas import facilities in Germany will reach 76.5 billion cubic meters, which is equivalent to 80% of the total gas consumed in Germany in 2021.

However, the German Ministry of Economy says: Even when all the LNG import terminals in Germany are activated, the global LNG market may not have enough to meet the double demand of this country, which will be more than the current situation.

Of course, this ministry says: Germany is not facing a gas shortage problem at the moment, but at the same time emphasized that when the country’s gas storage warehouses run out in a few months, Germany will face a shortage to fill them for the winter of next year.

Research by the Oxford Institute for Energy Studies shows that Germany is facing a shortage of 30 billion cubic meters of gas this year, and that the country’s floating storages will be able to provide at most half of Germany’s gas needs.

Christian Lee, a German expert, said in an interview with Bloomberg: “The reality is that in the next 3 to 4 years, there will not be enough LNG produced in the world to meet the growing demand for gas.”

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