Germany aims to reduce Russian oil imports by half by the middle of 2022, becoming almost independent by the end of 2022, according to the Ministry of Economy and Climate Protection (BMWK).
ccording to Xinhua, Germany’s dependence on Russian oil would be reduced in the coming weeks to around 25% through contract conversions.
Most specifically, the first important milestones have been reached to free Germany from the grip of Russian imports, said Robert Habeck, Vice-Chancellor and Minister for Economic Affairs and Climate Protection, adding that contract conversions were being done at an “insane pace.”
As far as coal is concerned, Germany could become independent of Russia by the fall, according to BMWK, while from April, the country’s dependence on Russian coal could be reduced from 50% to 25% in the short term.
Although diversification of gas imports was progressing, the process was challenging
said Habeck noted.
To achieve independence, Germany has secured options for three floating terminals for liquified natural gas (LNG), which were expected to provide 27 billion cubic meters of LNG by summer 2024.
Concluding Mr. Habeck explained that Germany is “moving forward consistently while prudently weighing the options,” adding that the economic and social consequences of an energy embargo against Russia would be “too severe.”