After Russia invaded Ukraine, many European countries began to look at their energy markets. Among them, Germany has tried to reduce its dependence on Russian energy. German Federal Minister for Economic Affairs and Climate Action Robert Habeck stated on the 25th that, since Russia invaded Ukraine, Germany has been reducing its dependence on Russian natural gas and oil. Significant progress has been made in importing coal.
Although Germany is trying to reduce its dependence on Russia for imported energy, it is not an easy habit to break. Habeck pointed out that Russian oil currently accounts for 25% of Germany's imports, down from 35% before the Russian-Ukrainian war, natural gas imports have dropped from 55% to 40%, and coal from 50% to 25%.
Habeck noted that the first milestone has now been reached and hopes to reduce Russian gas imports to 24% this summer but it may not be until the summer of 2024 that imports of Russian natural can cease. If this target is to be achieved, the government, states, cities, businesses, and consumers will need to act together.
Currently, German companies can quickly diversify their energy sources by canceling contracts, letting contracts expire, or finding alternatives, stated Habeck. It is estimated that Germany can halve its dependence on Russian oil in the summer and cut it to zero by the end of the year. As for coal combustion, this can be brought to zero as soon as autumn.
At present, Habeck is also visiting major natural gas producing countries such as Qatar and Norway, hoping to increase gas supply to Germany. Reuters quoted sources as saying that the European Union and the United States will also announce new contracts and the United States will supply more liquefied natural gas (LNG) to Europe. The U.S. is expected to supply 15 billion cubic meters more LNG to Europe this year than previously planned.
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