-
Neo Group Launches Mutual Fund to Expand Financial Services Platform
-
Maharashtra Government Raises MBBS Intern Stipend to Rs 25,000
-
Michigan Pizza Driver Halts $785K GoFundme After Viral Prank
-
Belgian Minister Marks Algeria’s Liberation Anniversary in Brussels
-
British Doctor Evacuated to London Isolation Unit After Ebola Contracted in Congo
-
Hochtief Reports Record Orders Driven by AI Data Center Demand
-
RenX Microtec Mill Is Built; Power and Commissioning Are Next
-
Globa Terra Acquisition Corporation Reports Encouraging Investor Support Ahead of November 9 Extension Vote
-
Gladstone Investment Corporation Acquires Majority Stake in McFarlane Toys
-
Moderna Reports Third Quarter 2026 Financial Results and Provides Business Updates
-
Watermelon Z Strain Guide Clarifies Conflicting Breeder Information and Genetic Lineage
-
MADE in America is Great Again; SMX has the Proof
-
Patterson-UTI Reports Drilling Activity for October 2026
-
Green Leaf Innovations (OTC PINK:GRLF) Reports 51% Sequential Revenue Growth and 115% Net Income Increase in Q2 2026
-
IRS Reports a Record $5.6 Trillion Collected in FY 2026 - Clear Start Tax Explains What Record Collection Performance Means for People Who Still Owe
-
Ambee and meteoblue Announce Partnership on Climate Risk and Resilience Data
-
RAEK Unveils New Designs for Creator Vault, Its First Private AI Appliance
-
21- and 23-Year-Old Co-Founders Build Multi-Million Dollar Global BPO in Under 18 Months
-
SMX: Plastic Recycling is no Longer a Favor; it's a Must
-
Vogenx Reports Third Quarter 2026 Financial Results and Business Highlights
-
BioScience Health Innovations, Inc. Announces Its Subsidiary Vitalcore Research has Executed Master Distribution Agreement with Rule Imports
-
InterContinental Hotels Group PLC Announces Transaction in Own Shares - November 06
-
Samsung Leads Global DRAM Market as SK Hynix Gains Share
-
South Korea Proposes Fourth Delay of Cryptocurrency Gains Tax to 2029
-
Kakao Details Spinoff Plan to Monetize AI Through KakaoTalk
-
ASIC Fines Mona Museum Owner $198,000 for Late Financial Report
-
ASIC Fines Mona Museum Owner's Company for Late Financial Report
-
Business Leaders Criticize Productivity Commission Inquiry Scope
-
Democrats Vow to Probe Trump Business Deals as Midterm Results Narrow
-
Kate McClymont Testifies at Alan Jones Trial Over Reporting Methods
-
New Diaries Show Emperor Hirohito’s Shift to War Support in 1941
-
SCANDIC FINANCE ने एलेक्स बोडी को समूह का उपाध्यक्ष नियुक्त किया
-
SCANDIC FINANCE แต่งตั้งอเล็กซ์ โบดี เป็นรองประธานกลุ่มบริษัท
-
SCANDIC FINANCE Grubu, Alex Bodi’yi başkan yardımcılığına atadı
-
Alex Bodi wiceprezesem grupy SCANDIC FINANCE
-
Алекс Боди е назначен за вицепрезидент на групата SCANDIC FINANCE
-
Alex Bodi a SCANDIC FINANCE vállalatcsoport új alelnöke
-
Ο Άλεξ Μπόντι νέος αντιπρόεδρος του ομίλου SCANDIC FINANCE
-
Alex Bodi byl jmenován viceprezidentem skupiny SCANDIC FINANCE
-
Alex Bodi utsedd till vicepresident för SCANDIC FINANCE-koncernen
-
تعيين أليكس بودي نائبًا لرئيس مجموعة SCANDIC FINANCE
-
SCANDIC FINANCEグループ、アレックス・ボディ氏を副社長に任命
-
SCANDIC FINANCE 그룹, 알렉스 보디 부사장 선임
Germany raises gas alert level after Russia cuts supply
Germany moved closer to rationing gas on Thursday as it raised the alert level under an emergency plan after Russia slashed supplies to the country.
"Gas is now a scarce commodity in Germany," Economy Minister Robert Habeck told reporters at a press conference.
Triggering the second "alarm" level under its action plan brings Germany a step closer to the third and final stage that could see gas rationing in Europe's top economy.
The development reflected a "significant deterioration of the gas supply situation", Habeck said.
Germany, like a number of other European countries, is highly reliant on Russian energy imports to meet its needs.
Russian energy giant Gazprom last week reduced supplies to Germany via the Nord Stream pipeline by 60 percent due to what the company said was a delayed repair.
But Germany has brushed aside the technical justification for the move, instead calling it a "political decision".
Russia was using gas "as a weapon" against Germany in retaliation for the West's support for Ukraine following Moscow's invasion, Habeck said, with the aim of "destroying" European unity.
- Shortage scenario -
Gazprom has already stopped deliveries to a number of European countries, including Poland, Bulgaria, Finland and the Netherlands.
Supplies of gas to Europe's largest economy were "secure" as it stood, with energy companies still in a position to "manage" the crisis, Habeck said.
The higher alert level would lead above all to increased monitoring of the supply situation but action was still required to prepare for the winter ahead.
"If we do nothing now, things will get worse," Habeck said.
In April, Germany mandated gas storage facilities be filled to 90 percent by the beginning of December to mitigate the risks from a supply cut.
Currently, the country's stores stand just under 60 percent full, above the average level of previous years.
The targets would, however, be hard to hit if exports onwards to other countries -- hard to justify within Europe -- were not limited.
Were these to return to the level they were at before the most recent supply squeeze, Germany could face an acute gas shortage in February 2023, while a further reduction in supplies via the Nord Stream pipeline could make the situation even worse.
Already, the German government expects supply to stop between July 11 and July 25 for maintenance on the pipeline.
If deliveries do not resume after the service period, Germany could face a shortage of gas as soon as "mid December".
- Households and industry -
Since the outbreak of the war in Ukraine, Germany has managed to reduce the share of its natural gas supplied by Russia from 55 percent to around 35 percent.
The government has found new sources of supply, accelerated plans to import gas in the form of LNG by sea, and put aside 15 billion euros ($15.8 billion) to buy gas to fill storage facilities.
Germany also decided to reactivate mothballed coal-fired power plants to take the burden for electricity generation off gas.
In contrast, the government shrugged off calls to extend the operational lifetime of its nuclear power plants.
Prolonging the use of the final reactors set to be taken off the grid at the end of the year was "not an option", it said Wednesday.
Germany had to look to see what the "energy saving potential" existed, Habeck said Thursday.
Households could "make a difference" by conserving energy, after Germany launched a campaign to encourage fuel-saving measures, he said, while industry could also make a further contribution.
The economy faced "significant challenges", said Wolfgang Grosse Entrup, head of the German chemical industry lobby.
The burden between companies needed to be "shared fairly", said Entrup, whose sector is highly reliant on gas to power production.
D.Johnson--AT