Germany News

Germany Nationalises Gas Group Uniper in Scramble to Secure Supply

Sep 21, 2022

Germany confirmed the nationalization of struggling gas importer Uniper at a cost of 8 billion euros ($7.9 billion) on Wednesday as it scrambles to secure power for Europe's largest economy after Russia cut back supplies.Nationalizing Germany's…

Germany Charters Fifth FSRU

Sep 02, 2022

U.S.-based LNG firm Excelerate Energy said Thursday that it had signed a term sheet with ENGIE for the deployment of a floating storage and regasification unit (“FSRU”) that will provide flexible and secure LNG regasification capacity for Germany…

Germany Secures Link to Planned Baltic Sea Renewable Energy Island

Aug 29, 2022

Germany has secured a power link to a planned offshore wind hub in the Danish part of the Baltic Sea that will help reduce energy dependence on Russia, Denmark's energy ministry said on Monday.The planned energy hub on the island of Bornholm…

Nord Stream 1 Pipeline to Shut for Three Days in Latest Fuel Blow to EU

Aug 22, 2022

Russia will halt natural gas supplies to Europe for three days at the end of the month via its main pipeline into the region, state energy giant Gazprom said on Friday, piling pressure on the region as it seeks to refuel ahead of winter.The unscheduled maintenance on the Nord Stream 1 pipeline…

'Pawn' in Energy Stand-off, Germany's Uniper Suffers $12.5B Loss

Aug 17, 2022

Uniper, the highest-profile corporate victim of Europe's energy crisis so far, reported a 12.3 billion euro loss ($12.5 billion) due to Russian gas supply cuts, saying it had become a 'pawn' in the energy standoff between the European Union and Moscow…

More US Sour Crude Heads to Germany to Replace Russia Oil

Aug 16, 2022

A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as European refiners test potential replacements for Russian oil.Europe is aiming to…

Germany Secures Gas Supply for Two FSRUs

Aug 16, 2022

Germany signed a memorandum of understanding (MoU) on Tuesday with the country's top gas importers to safeguard the supply of two floating liquefied natural (LNG) gas terminals it needs to reduce reliance on Russian energy.Under the MoU with Uniper and EnBW's VNG…

Dutch Gas Prices Up as Nord Stream Turbine 'Gets Stuck in Transit'

Jul 22, 2022

Dutch gas prices rose on Friday, boosted by further delays in replacing a turbine for the Nord Stream 1 pipeline from Russia, and as Germany raised its gas storage targets, British gas prices fell, however, on softer demand, Reuters reported…

First UK-Germany Power Link Gets Financial Green Light

Jul 21, 2022

A financial agreement was reached on Thursday to build the first power cable linking Britain and Germany, with construction set to begin later this year as the two countries work to reduce dependency on Russian gas and increase the use of green energy…

European Gas Prices Dip as Correct Previous Gains, Norwegian Flows Rise

Jun 24, 2022

Dutch and British wholesale gas prices mostly fell on Friday morning, correcting gains made the previous day after Germany triggered the second phase of its emergency gas plan.The benchmark Dutch wholesale gas contract for July delivery  was down 4…

Germany Could Expropriate Part of Nord Stream 2 Gas Pipeline - Spiegel

Jun 24, 2022

The German government is considering converting parts of the Nord Stream 2 gas pipeline into a connection for a liquefied natural gas terminal on the Baltic Sea coast.Magazine Der Spiegel reported on Friday that the German economy ministry is…

Schroeder Throws in Towel as German Industry Clings on to Russian Gas

May 26, 2022

Gerhard Schroeder has backed off from taking a top role at Russian energy giant Gazprom, dealing a setback to Germany's gas lobby as it seeks to keep the energy lifeline from Russia open.The former German chancellor played a critical role in…

Gerhard Schroeder Steps Down from Rosneft Board after EU Sanctions Threat

May 23, 2022

Russia's state-owned oil company Rosneft said on Friday that former German chancellor Gerhard Schroeder and German businessman Matthias Warnig were stepping down from its board of directors.The European Parliament had urged on Thursday that Schroeder…

Vallourec to Close Sites in Germany, France, and Scotland, with 2950 Jobs Set to Be Lost

May 19, 2022

Vallourec is starting a process to close its German manufacturing sites as it had failed to find a 'credible' buyer for the assets, the French steel pipe maker said on Wednesday.Vallourec also said it would close its heat treatment line in Saint-Saulve in France and a site in Scotland…

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