And even if Germany could immediately buy LNG off the global markets, it would be expensive. Even before the Ukraine war, LNG prices were increasing rapidly due to a resurgence in demand as the pandemic ebbed — spot prices were 435% higher on-year in 2021 in Asia, the key market for the fuel, according to a report from consulting firm
LNG contracts are also typically long-term contracts spanning decades, so major suppliers like Qatar and Australia would already have committed much of their future supplies to the traditional markets like Japan, South Korea, and China.Economy minister Robert Habeck said on February 24 that Germany would be creating a strategic reserve of coal for energy security, news outlet reported.
"We have maneuvered ourselves into an ever-greater dependency on fossil energy imports from Russia in the last 20 years," Habeck said, per said in a March 25 press release.to deal with disruptions to its natural-gas supply after Putin's threat to cut off energy supply if payment isn't made in rubles.
Germany is now in the"early warning phase" of its energy emergency plan, with Berlin calling for all energy consumers — both industry and households — to save energy and reduce consumption.
huileng_tan 'Employing people as much as possible' is no economy. That's your little misconception. That completely destroyed Earth. And we continue to burn fossil fuels to maintain 3-4 billion non-contributing bullshitjobs. Existential insanity.