Tuesday, May 24, 2022

JUST IN – Germany’s largest energy corp. has stopped buying gas from Gazprom

Germany’s largest energy corporation E.ON has stopped buying gas from Gazprom’s trading companies due to the situation in Ukraine, the company has said.

“A small amount of natural gas in our portfolio was purchased from Gazprom trading companies in Europe. Due to the war in Ukraine, we stopped purchasing new volumes of gas from these companies,” the company said.

“Regarding time horizons – I deliberately said that in the short term, if we’re talking about the short term, we’re talking about two to three years. The LNG terminal – at the moment there are statements that we could have it by the end of next year. That would be a German record. So it would probably take three years,” said E.ON Energy Chairman Birnbaum when asked how quickly independence from Russian gas could be achieved.

Russia launched a military operation in Ukraine on February 24. President Vladimir Putin called its goal “to protect people who have been subjected to abuse and genocide by the Kiev regime for eight years. After that, foreign countries began to impose sanctions, and companies began to suspend their activities in Russia en masse.