Ukraine war: How Germany ended reliance on Russian gas

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31 minutes ago, internationalism said:

Germany has allocated 200bln on renewables, plus 70bln for LNG, coal mines etc.

 

I think those 8bln spend by Norwey went to Baltic Pipeline. Norway has already made an additional 40bln sale in 2022 (in comparison to 2021) and likely to increase every year.

 

So there are losers, like germany, and winners, like norway.

 

"European Union countries have now earmarked or allocated 681 billion euros in energy crisis speding, while Britain allocated 103 billion euros and Norway 8.1 billon euros since September 2021, according to the analysis by think-tank Bruegel.

 

The 792-billion-euro total compares with 706 billion euros in Bruegel’s last assessment in November, as countries continue through winter to face the fallout from Russia cutting off most of its gas deliveries to Europe in 2022.

Germany topped the spending chart, allocating nearly 270 billion euros – a sum that eclipsed all other countries. Britain, Italy and France were the next highest, although each spent less than 150 billion euros"

https://tienphongnews.com/europes-spend-on-energy-crisis-nears-800-billion-euros-302403.html

Where do you come with these BS sources of yours. The Tien Phong News? really? In the first line of its opening paragraph it describes EU energy prices as "soaring"?  Really?

 

Europe’s Gas Prices Drop To The Lowest Level Since September 2021

By Charles Kennedy - Feb 13, 2023, 11:00 AM CST

European benchmark gas prices fell to their lowest level since September 2021 on Monday morning.

Europe is more confident that there will be no gas shortages until the end of this winter.

The UK’s wholesale gas prices also dropped today on expected stronger wind power generation on Tuesday. 

https://oilprice.com/Energy/Gas-Prices/Europes-Gas-Prices-Drop-To-The-Lowest-Level-Since-September-2021.html

 

Russia's revenues, on the other hand are shrinking.

 

 Russia's National Wealth Fund shrank to $148.4 billion as of Jan. 1, down $38.1 billion in a month, as the government took out cash to plug its budget deficit, data showed on Wednesday.

The ministry said it had spent 2.41 trillion roubles ($35.1 billion) from the NWF, a rainy day fund that accumulates oil revenues, to cover the deficit in December.

Along with heavy state borrowing at domestic debt auctions, the NWF - which was originally intended to support the pension system - has become the main source of financing for the budget deficit since Russia invaded Ukraine last year and was hit by waves of unprecedented Western sanctions.

https://www.reuters.com/markets/europe/russias-national-wealth-fund-148-bln-jan-1-finance-ministry-2023-01-18/

I wonder how Russian pensioners are going to feel when all the funds supposed to take care of them in their retirement are gone?

 

 

[Jingthing]

Hopefully this decoupling is sustainable and permanent. 

Bye bye, Russia, enjoy your pariah status, so well deserved. 

[thaibeachlovers]

7 hours ago, internationalism said:

Germany has allocated 200bln on renewables, plus 70bln for LNG, coal mines etc.

 

I think those 8bln spend by Norwey went to Baltic Pipeline. Norway has already made an additional 40bln sale in 2022 (in comparison to 2021) and likely to increase every year.

 

So there are losers, like germany, and winners, like norway.

 

"European Union countries have now earmarked or allocated 681 billion euros in energy crisis speding, while Britain allocated 103 billion euros and Norway 8.1 billon euros since September 2021, according to the analysis by think-tank Bruegel.

The 792-billion-euro total compares with 706 billion euros in Bruegel’s last assessment in November, as countries continue through winter to face the fallout from Russia cutting off most of its gas deliveries to Europe in 2022.

Germany topped the spending chart, allocating nearly 270 billion euros – a sum that eclipsed all other countries. Britain, Italy and France were the next highest, although each spent less than 150 billion euros"

https://tienphongnews.com/europes-spend-on-energy-crisis-nears-800-billion-euros-302403.html

Yeah, the war has been a nice earner for certain industries, and a huuuuuge loss for the ever suffering taxpayers.

[Chomper Higgot]

10 hours ago, thaibeachlovers said:

Yeah, the war has been a nice earner for certain industries, and a huuuuuge loss for the ever suffering taxpayers.

And yet when effective windfall races were suggested who was it joined the chorus singing from the song sheet handed them by the O&G companies?