Does Germany rely on Russia?

Germany no longer depends on Russian imports for its energy supply, the country's finance minister has told the BBC. Christian Lindner

Christian Lindner

Christian Wolfgang Lindner (born 7 January 1979) is a German politician of the Free Democratic Party (FDP) serving as the Federal Minister of Finance since 8 December 2021.

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Christian Lindner - Wikipedia

said Germany had completely diversified its energy infrastructure since Russia's invasion of Ukraine last year.

Where does Germany get their energy from?

Germany's largest domestic fossil fuel source is coal, but its consumption has decreased a lot in recent years, with a rebound in 2021 and 2022 – first due to unfavourable weather conditions for renewables and high gas prices, then also due to government efforts to bring coal plants back to replace gas use in power ...

Is Germany an ally of Russia?

Russia regards Germany as its foremost European partner; conversely, Russia is an important trading partner for Germany. Germany and Russia are cooperating in building the Nord Stream 1 gas pipeline. Many former East Germans have a good command of the Russian language and considerable knowledge about Russia.

Can Europe survive without Russian gas?

"In 2023, Europe will likely, for the first time, need to survive a full calendar year with only minimal volumes of Russian pipeline gas," S&P Global analysts Michael Stoppard and Alun Davies said in a recent report.

Does Germany need Russian gas?

Germany has decided to replace all Russian energy imports, most notably natural gas, by as soon as mid-2024, a Herculean effort given Europe's top economy depends on Moscow for the fuel to power its industry.

How did Germany end its reliance on Russian gas? - BBC News

What happens to Germany if Russia cuts gas?

In a joint analysis of the country's economic prospects in the energy crisis, Germany's leading economic research institutes in April said halting deliveries would “threaten to throw the German economy in a severe recession.” A gas cut could reduce gross domestic product (GDP) by nearly one percentage point, from 2.7 ...

What would happen if Germany stopped Russian gas?

Germany depends on Russia for about one-third of total energy consumption. If it is cut off from Russian energy imports, it will need to compensate either through alternative supply sources, fuel shifting and economic reallocation, or demand reduction.

Can the world live without Russian oil and gas?

But much of that increased output would require further investment and much more time. As a result, a total loss of Russian oil exports would be very damaging for global GDP in the short/medium term. Much higher prices would drive demand destruction (less economic activity) to rebalance the market.

Who buys the most gas from Russia?

Its top five LNG consumers are Japan, China, France, Spain and Taiwan, according to the BP Statistical Review of World Energy. Other European Union countries are also heavily dependent on Russian natural gas, which accounted for 45% of the bloc's imports in 2021, according to the European Commission.

Who will supply gas to Europe if not Russia?

Germany, Europe's biggest consumer of Russian gas, can import gas from Britain, Denmark, Norway and the Netherlands via pipelines. Norway, Europe's second biggest gas supplier behind Russia, has been raising production to help the European Union towards its target of ending reliance on Russian fossil fuels by 2027.

Who is Germany's greatest ally?

Today, the US is one of Germany's closest allies and partners outside of the European Union. The people of the two countries see each other as reliable allies but disagree on some key policy issues. Americans want Germany to play a more active military role, but Germans strongly disagree.

Are Germany and China allies?

Germany is China's biggest trading partner and technology exporter in Europe. China is Germany's largest trading partner, superseding the United States since 2017.

Are Germany and Ukraine allies?

Current relations were resumed in 1989 at a consulate level, and in 1992 as full-scale diplomatic mission. Germany supports Ukraine's European Union and NATO membership, and helps it to grow a "strong, climate-friendly economy".

How quickly can Germany wean itself off Russian gas?

Germany plans to stop almost all Russian oil imports this year and broadly wean itself off the country's gas by mid-2024, a hugely ambitious plan that poses complex logistical hurdles for Europe's biggest economy.

Where does US get most of its oil?

Does the US get oil from Russia?

The United States has imported a relatively small share of crude oil from Russia, but U.S. imports of petroleum products from Russia—namely, unfinished oils and fuel oil—is a larger share. U.S. refineries use imported unfinished oils and fuel oil as a supplement to crude oil in the refining process.

What would happen if Russia cut off gas to Europe?

A full shutdown, while not their base case, could drive European household energy costs up by about 65% to around €500 ($512) per month, according to estimates by Goldman Sachs Research. Industries like chemicals and cement in Germany and Italy might have to cut their gas usage by as much as 80%.

Where does the US get gas from?

U.S. petroleum refineries make gasoline (and other petroleum products) from crude oil and other liquids that are produced in the United States or imported from other countries. The specific sources of the crude oil and other liquids used at refineries may vary.

What would happen if everyone stopped buying Russian oil?

That would mean higher costs for driving and heating fuel and more consumer inflation. Russia is a major supplier of Europe's diesel fuel for trucks and farm equipment, meaning its price affects the costs of a wide range of food and goods.

Can Germany manage without Russian oil?

[UPDATE adds Habeck quote "We don't have to let ourselves be blackmailed."] Germany can become independent from Russian coal by autumn, virtually independent from the country's oil by the end of 2022, and largely do without its natural gas by summer 2024, said economy and climate minister Robert Habeck.

What happens if Russia stops selling oil?

Embargo's Impact on World Markets

As a result, a total loss of Russian oil exports would be very damaging for global GDP in the short/medium term. Much higher prices would drive demand destruction (less economic activity) to rebalance the market.

Can America supply Europe with gas?

The United States looks set to remain Europe's top LNG seller in 2023 as U.S. LNG exporters have greater volumes of LNG available for spot market purchases than other major exporters like Qatar, and as additional U.S. export capacity comes on line.

Why does Germany rely so much on Russian gas?

Data source: BP Statistical Review of World Energy 2022. Germany's dependence on Russian gas is often linked to its decision to shut down its nuclear plants in the wake of the 2011 Fukushima nuclear disaster. But the CREA report argues that wind power could have effectively substituted for that gas.

Can the world replace Russian gas?

New research released by the International Oil & Gas Producers (IOGP) Europe and the American Petroleum Institute (API) shows Europe can progressively rebalance its gas supply and replace Russian gas imports well before 2030, despite short term challenges and significant impact to society.