Berlin is asking Ottawa to turn a blind eye to the sanctions and send the turbine that the Russians say is needed to restore the pipeline to 100% operation.
It is turning into a nightmare for Europe energy crisis. Germany is preparing for the worst, with vice chancellor Robert Hambeckto express shock assessment for the “explosion” of energy costs.
THE Germanyhe even intervened in Canadain order to release a component of the natural gas pipeline “Nord Stream”, which has been … involved in the sanctions.
The coveted Nord Stream turbine that is “stuck” in sanctions
More specifically, Germany is asking Canada to do the “turn a blind eye” to sanctions and to send the turbine that the Russians claim is needed to restore the pipeline to 100% operation and which was repaired in Montreal.
In this way, the German government seeks not to find “pressure” o Vladimir Putin to keep the Nordstream 1 pipeline closed after maintenance is completed on July 21.
“It was with a heavy heart that we had to ask for it. If it is a legal problem for Canada, I want to make it clear that we are not asking them to hand her over to Russia, but to send her to us.” said Vice Chancellor Habeck.
To consumers the cost of bailing out the energy industries
Inside Germany, in order to keep the energy industry afloat which has been crippled by the 60% reduction in Russian flows, the government is passing a law that gives it the right to save the companies passing on part of the cost to consumers as well.
“That could drive the price up into the four-digit range, and that could also be a monthly income for a family.”warns Habeck.
Handelsblatt: Over 5,000 the energy cost for each household
According to Handelsblattthe cost for a German household can exceed 5,000 euros. Even if Berlin secures the sought-after turbine, the pipeline is not certain to reopen and Germany is preparing for the worst.
“The government dims the lights on the streets, closes the swimming pools and puts a ticket on the hot water”, reports the CNBC reporter, Seema Modi.
The German press is dominated by closed tap scenarios.
“This can lead to extreme energy poverty, power outages, it can lead to periods when the most vulnerable may not have enough energy to heat their home.” explains the Arthur SullivanDeutsche Welle economic analyst.
A crushing blow for Europe as well
Nordstream 1 carries almost half natural gas which Europe needs, so the blow to it too would be crushing.
“We have not seen such high gas prices in the summer. But the real crisis for citizens and politicians will come in the winter if the warehouses are not filled. All historical crises so far in the energy market will pale in comparison to the situation in Europe.” warns the By Magnus NisvinRystad Energy Chief Analyst.
Lesser risk for Greece
According to the Greek government, the risks for our country are smaller. A plan has been drawn up for the use of additional lignite and oil but is largely based on imports of liquefied natural gas (LNG).
“Already the new floating tank, a new ship has sailed in Revythoussa, in the gasification facility, we have almost doubled its capacity,” stated the Kostas SkrekasMinister of Energy and Environment at Open.
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