Germany has declared a second level energy emergency. But this is only the beginning of the journey. Because on July 11, Nord Stream 1 stops for scheduled maintenance. Approximately it can last 10 days. And there is no certainty that it will work.
Big risks
On the one hand, this is a blow to Russia itself, which will be left without its largest consumers. On the other hand, Germany will not cope with this challenge without consumption rationing.
Rationing and high gas prices are a blow to the industry of one of the largest EU economies, which will affect financial flows to European funds, the political situation in the country and the displacement of German products from the markets, primarily with Chinese goods.
Germany does not hide the worst forecasts from the people and calls on everyone to contribute to surviving this long and threatening winter.
The Germans have seen the light
A few theses from the German Energy Minister Robert Habek :
- The situation is serious and winter will come.
- Even if you don't feel it: we have a gas crisis.
- Gas is now a scarce commodity. Prices are already high and we should be prepared for further increases. This will affect industrial production and be a big burden for many consumers.
- Obviously, this is Putin's strategy to create danger, raise prices, and divide Germans as a society.
- Shutting down gas supplies is an economic attack to Germany.
- We now need to reduce our gas consumption in order to prepare for winter.
- It is the failures of the last decade that have led us to these difficulties.
