Home Business German authorities allocate €15 billion for accelerated filling of gas storage facilities

German authorities allocate €15 billion for accelerated filling of gas storage facilities

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The German Ministry of Economy ordered to allocate about €15 billion for the implementation of measures to fill gas storage facilities in Germany. For these purposes, a loan will be allocated from the KfW banking group. This was reported by the DPA agency with reference to the report of the Ministry of Economy of Germany. The loan will be allocated to the single gas hub of Germany, Trading Hub Europe, in order to provide liquidity for the purchase of raw materials. In addition, the German authorities want to use coal-fired power plants more actively in order to save more gas. On June 16, Bloomberg reported a decrease in gas supplies for Uniper, the largest Russian gas buyer in Germany. The reduction in supplies by 25% was due to a 40% restriction in the supply of raw materials to Nord Stream. In Gazprom, the decrease in pumping volumes is explained by the untimely repair work by the Siemens company servicing gas pumping units. Until February 24, Germany accounted for a third of the total volume of Russian gas supplies to the European Union, or 50 billion cubic meters per year. According to the plan of the German authorities, the end of weaving … .

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