EnBW received 3.6 million tons, or 86 % of its hard coal supplies come from Russia.
Germany's third most valuable energy company, EnBW, will not enter into new contracts with Russia as long as Putin's regime is in place, CEO Frank Mastio said.
“Under this government, there will be no new supply contracts to Russia,” he said.
EnBW is Germany's third largest energy company by market value. The company has stepped up efforts to cut supplies of Russian coal and gas, but said it could not immediately compensate for the sudden stop in imports and was entering into negotiations with competitors RWE and E. ON.
“As you know, a complete replacement of purchases in the short term in the event of a theoretical loss of Russian gas is not feasible for us, as well as for most market participants,” Mastio said.
According to him, Germany will continue to rely on imports gas for some time to come, and he welcomes the government's attempts to find liquefied natural gas from Qatar.
EnBW has received 3.6 million tons, or 86% of its hard coal shipments, from Russia, Mastio said. However, he added that the company began to diversify purchases at the end of 2021, and the existing reserves will last until the end of the year.
As for the gas division of the group, VNG, last year it purchased 20% of Russian capacities for the purchased 495 TW -h total. The volume of Russian imports will decrease from 2023, they added. In particular, one of the two Russian contracts expires at the end of 2022, and the other – in 2030.
Recall that the aggressor country Russia has problems with its offensive in Ukraine, which began on February 24.
German Chancellor Olaf Scholz said this during a speech in the Bundestag.
