Germany faces € 5 billion annually hit by Russian gas sanctions: newspapers


Berlin — Russian sanctions on Gazprom Germania and its subsidiaries could cost German taxpayers and gas users an additional € 5 billion ($ 5.4 billion) annually to pay alternative gas, Weltam Sonntag said weekly. I reported.

Russia has decided to suspend the supply of Gazprom Germania, a German subsidiary of Gazprom, in May after Berlin put the company under the control of its trustees due to Russia’s invasion of Ukraine.

Since then, the Bundesnetzagentur energy regulator, acting as a trustee, has had to buy alternative gas on the market in order to fulfill supply contracts with German municipal utilities and local suppliers.

A spokesman for the ministry estimated that the Ministry of Economy would need an additional 10 million cubic meters per day, confirming the number quoted by the newspaper.

“Quantities are sourced at market and market prices. Due to commercial confidentiality, we cannot provide information on the exact amount,” the spokesman replied in an email.

Welt am Sonntag said the current cost is around € 3.5 billion annually, and the filling of the Rehden natural gas storage facility ordered by Economic Minister Robert Habeck on Wednesday could incur additional costs. ..

The newspaper also said that additional costs will be passed on to energy suppliers and end customers in the form of gas taxes from October.

($ 1 = 0.9330 euros)

Reuters

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