Germany warns of natural gas emergency amid Russia-Ukraine war

• Russian government demanded countries to pay in rubles for gas exports

Germany warned of a natural gas emergency on Wednesday amid threats of supply disruptions from Russia.

German Economy Minister Robert Habeck said the country has declared “early warning” measure which is the first of three stages of a contingency plan. The plan aims at protecting the Europe’s largest economy from any possible reduction in Russian gas deliveries.

Russian government last week demanded countries to pay in rubles for gas exports. Most countries deal with Russia for its gas exports in dollar and euros.

G-7 countries, including Germany, had turned down Russia’s demand. 

“We are in a situation where I have to say clearly that every kilowatt hour of energy saved helps, and that is why I would like to combine the triggering of the early warning level for gas supplies with an appeal for help to companies and private consumers,” Habeck said, according to a translation by German broadcaster Deutsche Welle.

Also Read: Poland to cut down Russian oil imports by 2022

“You are helping Germany, you are helping Ukraine, when you reduce your use of gas or energy in general.”

Habeck urged consumers and companies to reduce consumption. Germany would not be able to get rid of Russian oil before mid-2024, he added.

European benchmark for natural gas trading Dutch TTF hub traded up over 11% at 120.5 euros ($134) per megawatt-hour on Wednesday.

Germany imported around 55% of its gas supplies from Russia last year while the European Union gets 40% of its gas from Russia.

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