Germany upbeat on energy security; Russia cuts gas to France

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German Chancellor Olaf Scholz said Tuesday that his country is well-prepared to tackle a possible energy shortage because of Russia's squeeze on European gas supplies, even as fears grow about the juggernaut of rising prices that will likely hit consumers across the continent this winter.

He spoke at the start of a two-day government retreat, attended also by Spanish Prime Minister Pedro Sanchez, which was focused on the impacts of Russia's invasion of Ukraine on the energy supply in Europe.Scholz cited Germany's decisions to reactivate oil and coal-fired power plants, mandate the filling of natural gas storage facilities and lease floating liquefied natural gas terminals.

Russia's state-controlled energy company Gazprom further reduced gas deliveries to the French company Engie, raising fears that Moscow might cut off gas completely as political leverage over the war in Ukraine. France, like other European countries, is trying to beef up its gas reserves for winter and fill up its storage by early autumn to avert an economic and political crisis.

Baltic Sea nations were due to meet Tuesday in Copenhagen, Denmark, to announce plans for a major increase in wind power production by 2030 as a way to free the region from overdependence on Russian natural gas.

 

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