The country’s floating LNG terminals will reach the necessary capacity no sooner than 2026, the Economy Ministry estimatesGermany is a long way from fully substituting Russian pipeline gas supplies with liquefied natural gas (LNG), estimates by the country’s Economy Ministry show.According to a document published on the Bundestag website, Germany imported 55 billion cubic meters (bcm) of Russian natural gas in 2021. The document also shows that Germany’s new Floating Storage and Regasification Units (FSRUs), which are currently being installed in a number of ports to allow the import of LNG, may reach a similar capacity no sooner than in 2026.By 2030, those capacities are projected to increase to 76.5 bcm, or about 80% of total German gas consumption in 2021. However, the ministry notes that even once the terminals go online, the global LNG market may not have enough capacity to cover additional demand, which could push these dates further.Germany did manage to reduce its dependence on Russian energy last year by importing LNG through European neighbors and boosting pipeline gas flows from Norway and the Netherlands. However, its gas storages were filled over the summer, when Russian gas still flowed directly to the country. Another problem is the cost of LNG imports, which is estimated to be four times more expensive than Russian pipeline deliveries. Germany may also face supply constraints if the Netherlands goes through with recently announced plans to shut down the Groningen gas field, the region’s largest gas deposit.
This article was originally published by RT.
