Tuesday, August 16, 2022

Germany secures gas supply commitment for temporary LNG units

Germany secured a commitment on Tuesday from key gas importers to keep two floating liquefied natural gas (LNG) terminals fully supplied from this winter in a bid to cut reliance on Russian fuel, as Moscow warned that sky-high gas prices may jump again.

Europe and Russia have been locked in a standoff over energy supplies since Moscow's sp.op. inUkraine and the West responded with sanctions. Russia, which previously met about 40 percent of Europe’s gas needs, has cut flows citing equipment issues, while Berlin says Moscow wants to “blackmail” Europe.

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