‘Firms will go bust’: Germany prepares for a future without Russian gas

  • 📰 GuardianAus
  • ⏱ Reading Time:
  • 92 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 40%
  • Publisher: 98%

Australia Headlines News

Australia Latest News,Australia Headlines

Germany is bracing for supplies to be cut by Moscow in retaliation for sanctions or as part of an energy embargo

n Germany, they call it “Day X”. Businesses up and down the land are making contingency plans for what is seen as a growing likelihood that“It would be a disaster – one which would have seemed almost unthinkable just two months ago, but which right now feels like a very realistic prospect,” the owner of a hi-tech mechanical engineering company in westernsaid. The firm produces everything from battery cases for electric cars to train clutch systems.

On Friday at the Brandenburg Gate, protesters in favour of an oil and gas embargo made their point for the moral argument, with 410 red lights commemorating the victims of Russian army killings in the town of Bucha, alongside slogans asking German chancellor Olaf Scholz: “If not now, when?” Their message is stark. As long as German industry keeps taking the energy – for which it pays Moscow €200m every day – it is helping fund the atrocities.

Robert Habeck, the economics minister, has urged Germans to “turn down the thermostat” – saying that “every kilowatt hour that Germany saves harms Putin” – what some have cynically dubbed “freezing for Ukraine”. Industry too is being urged to scale back its use. Habeck triggered the first part of a three-point emergency plan last week that anticipates a slow-down or halt of gas and decides where supplies would go. Hospitals, emergency services and medical manufacturers would be prioritised, followed by private households. Industries, which use a quarter of the gas delivered to Germany would be the first expected to shut down, according to the plan.

The Federal Network Agency, which ensures fair access to gas, electricity and other vital services, has sent a questionnaire to all German businesses, asking them to effectively set out their individual arguments for a right to gas. “The question of prioritisation is a very difficult decision, requiring consideration of a wide range of consequences,” said a spokesperson for the economics ministry.

“We would get very high unemployment, many firms would go bust,” BASF chairman Martin Brudermüller has said. “It would lead to irreversible damage. To put it bluntly: it could lead Germany into its most serious crisis since the end of the second world war, and destroy our prosperity.”

Source: Energy Industry News (energyindustrynews.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The demise of Ezy-Sauce means country cooks face future without 'safety blanket'News that food manufacturer Kraft Heinz has discontinued a popular condiment has sent ripples through regional Victoria's cooking community. Vale, old friend The ladies of Natimuk. A force to be reckoned with If Ezy-Sauce is no longer being made, it's almost certainly because it was no longer being bought by very many people.
Source: abcnews - 🏆 5. / 83 Read more »

UK politics live: German chancellor Olaf Scholz and Boris Johnson hold press conferenceLatest updates: German chancellor and UK prime minister expected to talk about how to reduce dependence on Russian gas amid war in Ukraine
Source: GuardianAus - 🏆 1. / 98 Read more »

Gomeroi traditional owners vote against agreement with Santos for Narrabri gas projectCourt hearing will determine if Santos can progress coal seam gas development without consent of Gomeroi people
Source: GuardianAus - 🏆 1. / 98 Read more »

These men are set to take the first fully civilian flight to the ISS. So are they tourists, or real astronauts?Private space travel is about to go to a new level — literally — as the first civilian crew prepares to blast off to the International Space Station. I think you'll find they are just rich old men. Waste of money By that logic, Cook was a sailor but Kay Cottee wasn't?
Source: abcnews - 🏆 5. / 83 Read more »

Kramatorsk train station: Ukraine says dozens killed in rocket attackState railway company says two Russian rockets struck station being used to evacuate civilians to safety Evil beyond words. Innocent, fleeing civilians of a democratic nation. Absolutely appalled at what is occurring to the Ukrainian people.
Source: GuardianAus - 🏆 1. / 98 Read more »

Johnson hails German ‘determination’ over Ukraine before Scholz meetingBritish PM plays down countries’ differences as he praises chancellor for efforts on Russian energy imports
Source: GuardianAus - 🏆 1. / 98 Read more »