According to a plan published on Friday by Economy Minister Robert Habeck, Germany hopes to wean itself off Russian coal and oil this year.
News Agency of Nigeria
As Western nations strive to break off economic relations with Moscow as punishment for its invasion of Ukraine, Habeck, who is also Chancellor Olaf Scholz’s deputy, spoke of significant progress in a short period of time.
“By the middle of the year, Russian oil imports to Germany are expected to be halved. By the end of the year, we aim to be almost independent.
“As for coal, Germany plans to be independent of Russian deliveries “by the autumn,” he said.
“The first important milestones have been reached to free us from the grip of Russian imports,” Habeck said in Berlin.
However, entirely cutting off Russian fossil resources is a tough order for Germany, which received 50% of its coal and 35% of its oil from Moscow before the Ukrainian conflict began.
He stated that oil and coal contracts with Russia will not be renewed, and that corporations will seek new alliances after current agreements expire.
As a result, Russia’s proportion of German oil imports is likely to have dropped to a quarter, with coal deliveries expected to follow suit in the coming weeks.
Efforts are also ongoing to progressively phase out Russian gas, though this will take much longer.
According to Habeck, Germany will be largely independent on Russian imports by the summer of 2024.
According to him, by the end of the first quarter, Russia accounted for 40% of German gas imports.
Three floating LNG facilities, according to the ministry, will also play a role in the conversion of the gas supply.
The German government commissioned these through the energy companies RWE and Uniper.
Habeck’s announcement comes just days after his trip to the Gulf, where he spent time in Qatar, one of the world’s largest LNG exporters, arranging new deals with German business executives.
Germany also intends to construct its own LNG facilities in order to increase receiving capacity.
Currently, LNG arrives at facilities in the Netherlands and Belgium before traveling to Germany.
Meanwhile, the European Union has reached an agreement with Washington to acquire at least 15 billion cubic meters of liquefied natural gas (LNG) from the US this year.
Habeck also urged the general population to minimize their overall energy consumption.
“Every effort, every kilowatt hour saved, is also a help and harms Putin,” he said.
Related posts
‘#EndSARS Has Woken Us Up’ – IGP Usman Baba
Reviews
Follow Our Activities On Facebook
2 hours ago
2 hours ago
3 hours ago
6 hours ago
1 day ago
SUBSCRIBE
[mc4wp_form id=”2012″]
Top Reads!
#BigBrotherNaija “Level Up” Week 6
Though last Sunday Sunday was meant to be a “no-eviction” day, it came as a shocker when fake housemate, Modella…
Dating in 2022; Situationships Are Not For The Fainthearted
Situationships are defined as that space between a defined relationship and something other than a friendship. It is a romantic…
20 Questions With Dinta Media’s Visual Storyteller, Chimeremogo Nwoke
Dinta Media is not really just a media production brand but we like to see ourselves as a hub for…
How Are Nigeria’s Small Businesses Coping?
The current rising rate of inflation and other burdens against the Nigerian economy speaks to the realities of the times.
Thrifting Is All The Rave Now, Here’s Why
By Amy Adindu The affordable clothing movement has gained global attention and acceptance as we’re all trying to look like…
#BigBrotherNaija “Level Up” Week 2
Week 2 of the highly watched Nigerian TV show kicked off with an early plot twist. On Sunday, Big Brother…
#BlueTunes: Burna Boy, Omah Lay Top Album Picks For July
July was a promising month for music lovers; from Lizzo’s album titled Special and Imagine Dragons’ Mercury, (Acts 1 &…
#BlueTunes Album Picks For June
Gbagada Express – Boj Bolaji Odojukan, popularly known as BOJ, was raised both in England and Nigeria. He shot to…
“A Creative’s Dream” with Jeff Chinonso
On the 26th of June 2022, Jeff Chinonso hosted his first solo art exhibition. The Augmented Reality exhibition themed “A…
Nigerian API-based company Thepeer raises $2.1 million
Tech infrastructure startup Thepeer has raised a $2.1 million seed round according to a report from TechCabal. Thepeer, a Nigerian…
Dika Ofoma, Ugochukwu Onuoha take on grief in Debut Film “The Way Things Happen”
The twenty-minute film focuses on the loss of a loved one, and how grief changes a person.
Nigerian Startups might just be Crippled by a Recently Leaked bill
Over the years there has been talks of amendment on the 2007 Act of the National Information & Technology Agency (NITDA).
Why We Love Kelechi Amadi Obi
The definition of talent is Kelechi Amadi’s iconic story. Imagine a person who studies law in school, gets called to Bar, and leaves it all for something different and unrelated…Painting!