Last April, Germany shut down its last three nuclear power stations, marking the end of the country’s atomic age.
Berlin has unveiled plans to spend €16 billion on 10 gigawatts (GW) of new gas-fired power plants in a major overhaul of the country’s energy grid.
Germany is also abandoning its short-lived love affair with coal.
Equinor’s 10-year, €50 billion gas supply agreement with SEFE addresses 33% of Germany’s current industrial demand.
The deal includes an option for a 5-year extension and Equinor also signed a non-binding letter of intent for long-term low-carbon hydrogen supply starting in 2029.
The partnership aims to accelerate the hydrogen economy, with SEFE expected to become a major off-taker of low-carbon hydrogen from Equinor in the future.
The European Commission has approved around USD 44.3 million to support construction of an onshore LNG terminal in Germany, the executive body of the EU reported on Thursday.
The energy crisis is not over yet, Klaus Müller, the president of Germany’s energy regulator, told the Funke media outlet on Wednesday.
Germans are criticizing a government plan to ban oil and gas boilers and replace them with heat pumps, arguing it is happening too fast and is going to cost a lot of money.
The German Cabinet was holding a two-day closed meeting in Meseberg to discuss the energy transition and digital policy, two contentious issues for the coalition parties.
ADNOC and RWE Aktiengesellschaft (RWE) have announced the successful delivery of the first shipment of LNG from Abu Dhabi, UAE, to the Elbehafen floating LNG terminal in Brunsbüttel, Germany.
Some European politicians and economists are breathing a sigh of relief after mild temperatures, increasing liquefied natural gas shipments, and above-average natural gas stockpiles have so far averted a worsening energy crisis this winter. Other politicians believe the energy crunch won’t be over for many years.
Germany is in negotiations with some of the world’s top liquefied natural gas suppliers
Russian state gas giant Gazprom has already cut gas flows to Germany via the key Nord Stream 1 pipeline by 60% from last month, citing an equipment hold-up in Canada as a result of sanctions over the war in Ukraine.