Germany is years away from replacing Russian gas, ministry official – RT Business News


The country’s floating LNG terminals will reach the required capacity in 2026 at the earliest, according to the Ministry of Economy.

According to the assessment of the country’s Ministry of Economy, Germany will not be able to completely replace Russian pipeline gas with liquefied natural gas (LNG).

Germany will import 55 billion cubic meters (bcm) of Russian natural gas in 2021, according to a document published on the Bundestag website. The document also shows Germany’s new floating storage and gasification units (FSRU), which are currently installed in a number of countries. Ports capable of importing LNG may reach this capacity no earlier than 2026.

By 2030, these capacities are expected to increase to 76.5 billion m3, or about 80% of Germany’s total gas consumption in 2021. However, the ministry notes that even after the terminals are connected to the grid, there may not be enough LNG capacity in the global gas market. includes additional volumes. request, which may advance these dates.

The ministry says that the country’s gas storages are currently well-stocked and there is no risk of gas shortages. However, he admits Germany could face shortages later this year when stores run dry and it’s time to fill them for the next heating season. According to calculations by the Oxford Institute for Energy Research, Germany will face a gas supply shortfall of around 30 billion cubic meters this year, and FRSU is expected to produce less than half of that by the end of 2023.

In the next three to four years, there will not be enough LNG production capacity to meet the growing demand in the world. So the unspoken strategy is that Germany will continue to pay insane prices while other less wealthy countries will walk away empty-handed.Christian Leye, the representative of the left-wing party in the Bundestag, told Bloomberg about this.

Germany managed to reduce its dependence on Russian energy last year by importing LNG through its European neighbors and increasing pipeline flows from Norway and the Netherlands. However, its gas tanks were filled in the summer, when Russian gas was still flowing directly into the country. Another issue is the cost of LNG imports, which are four times more expensive than Russian pipeline deliveries. Germany could also face supply constraints if the Netherlands follows through on recently announced plans to close the Groningen gas field, the region’s largest gas field.

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