German Finance Minister: We are no longer dependent on Russian energy
Subscribe to our newsletter “Context”: it will help you understand the events.
Germany is no longer dependent on energy imports from Russia, Finance Minister Christian Lindner said in an interview with the BBC.
Germany has completely diversified its energy infrastructure since the Russian invasion of Ukraine, Lindner said.
Berlin has found new sources of energy imports despite Russia cutting off gas taps to Europe, Lindner said.
“Yes, of course, Germany is still dependent on energy imports, but today it is no longer on imports from Russia, but on world markets,” he said.
Previously, Germany imported from Russia about the consumed gas and more than a third of all oil.
In August 2018, the country has seen an increased demand for gas in the country at the beginning of the year.
In the pursuit of alternative energy sources, the country has reopened coal-fired power plants, shelved plans to close Germany’s three remaining nuclear power plants, and increased capacity to store gas imported from other countries such as Norway and the US.
Lindner, taking part in the World Economic Movement taking place in Davos, influenced the speed with which a new LNG metering terminal was built in Germany – in about eight months, according to his account.
The German finance minister added that additional investment in infrastructure is expected.
“This is just one example of a change in German policy that has taken place,” he said.
“We realized that we have to strengthen our productivity,” Chancellor Merkel said after the era.
Mr. Lindner also suggested that German inflation peaked last year.
“Probably the global economy and the European economy are recovering faster than expected,” said the finance minister.