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by Andre Stero
Posted in to •
3 Read less
Posted in to •
3 Read less
During an economic conference in eastern Germany, German Energy Minister Robert Habeck warned on Monday that industrial production in the country would have to be partially halted if Russian gas was no longer flowing to Europe via Ukraine.
Why is this important?
Before the invasion of Ukraine, Europe was highly dependent on Russian natural gas, which flowed to the continent through four pipelines. The two largest of these, Nord Stream and Yamal, are no longer in use. However, Europe still imports gas (to a lesser extent) through the two remaining pipelines, which are pipelines Turkstream and Ukraine gas transit.In the news: If gas can no longer be imported via the Ukrainian gas transit, Habeck said, the German economy, which is already in recession, risks getting into even more trouble.
- Currently, the Russian company Gazprom an agreement With the Ukrainian company Naftogaz to transport natural gas through Ukraine to Europe for a period of five years. The deal runs until the end of 2024, after which there is an option to extend it for ten years.
- The deal was signed in 2019 by Russia and O
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