Germany is secured for the winter

 Germany has filled up 90% of its reserves for the upcoming winter after Russia stopped its oil exports to Europe. This deal got secured due to the deal that was struck between the German government and Uniper and Finland-based Fortum.

Current condition - Germany had set aside 15 billion USD to secure its fuel needs, out of which 1.5 billion have already been used, and the rest 2.5 billion are pulled out now to buy LNG. Germany plans to complete its 95% storage goal by November 1.

From where did these new alternative sources arise - Germany also receives natural gas via pipelines from Norway, the Netherlands and Belgium. Over the weekend, Germany expects to sign contracts for the delivery of LNG in the United Arab Emirates.

What's in it for you - Shipment projects for oil along with pipelines from Norway and Netherlands are going to be put in place. German securities might start an overall buy season for oil and gas as all of the other European countries are failing to secure themselves. Including that, the Nordic countries themselves buy oil from Russia, so overall, Russian gas is the one getting supplied to Germany just at a much higher price.

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