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Title : Has Germany Ended Its Reliance On Russian Natural Gas
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Has Germany Ended Its Reliance On Russian Natural Gas

BBC: Ukraine war: How Germany ended reliance on Russian gas 

When Vladimir Putin switched off the gas taps to Europe, Germany more than most feared a winter of blackouts. Ministers scrambled to secure alternative supplies, painfully aware that a heavy dependence on Russian gas had left this industrial nation woefully exposed. 

But fast forward a few months and, as lights sparkle in the Christmas markets, there is a sense of tentative optimism in the Glühwein spiced air. Germany's hastily assembled strategy to manage without Russian gas appears - for now - to be working.

"Energy security for this winter is guaranteed," the Chancellor Olaf Scholz told MPs in the German parliament on Wednesday morning. 

Not only are the country's gas stores full; the result, in part, of a frantic - and expensive - buying operation on the world's markets.  

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WNU Editor: Germany is the world's largest importer of natural gas. To replace 40% of the supply that came from Russia meant buying LNG on international markets at astronomical prices. So yes. One can easily make the argument that Germany has ended its reliance on Russian natural gas. But they have sacrificed the economic benefits that cheap and reliable natural gas from Russia has given to German industry and consumers. 

I have mentioned it more than once on this blog that Germany's economic success is from a business model that is based on cheap and reliable Russian energy. That is now no longer the case. Many German industries have already signaled that to remain competitive on global markets they will need to relocate to other parts of the world where energy supply and prices is not an issue. And most Germans understand that. But the ultimate consequences have yet to be felt.

And what will be this ultimate consequence?

I predict that if the Russian - Ukraine war is not resolved by 2023, and Russian sanctions are still in place, the industrialization of Europe, particular in Germany, is going to accelerate.

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