Germany to help landlocked countries with liquefied gas supply

German Chancellor Olaf Scholz announced that Germany will help countries without access to the Baltic Sea to secure supplies of liquefied natural gas.

According to Olaf Scholz, Germany will show solidarity with those EU countries that do not have the possibility to build a terminal to receive liquefied natural gas, which is delivered by sea freighters. Scholz said this after a meeting with Czech Prime Minister Petr Fiala.

The Czech Republic is one of the dependent countries

The Czech Republic is one of the countries that are overwhelmingly dependent on natural gas supplies from Russia. “We need to be ready to help countries that do not have direct access to the North Sea or the Baltic Sea, which must rely on cooperation with the countries that lie on those seas,” said Olaf Scholz.

Russia may turn off taps to other countries

The German side has previously announced that it will take steps to increase imports of liquefied natural gas and also strengthen floating storage capacity. At the same time, Germany has decided to build an LNG receiving terminal in the North Sea port of Wilhelmshaven. The European Union is thus starting to prepare for the eventuality that Russia will shut off gas to other countries besides Bulgaria and Poland.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Golden Brokers Review

Golden Brokers Limited was founded in 2018, it is...

Siemens’ Quarterly Profit Beats Estimates as the Company Benefits from AI-Related Demand

German industrial conglomerate Siemens increased its profit from industrial...

Sell Stop Orders: How They Work, When They Trigger and Where They Fail

A sell stop order allows investors to automatically sell an asset...

German Authority Investigates PayPal Over Possible Restriction of Competition

The online payment system PayPal may be engaging in...

Airbnb Could Earn More From the Same Booking

Airbnb plans to bring car rentals and partner services directly into its platform. With AI customer support reducing overheads, the company aims to earn higher profits from existing customer bookings.

Over-the-Counter Markets: How OTC Trading Works Outside Centralized Exchanges

Over-the-counter (OTC) trading allows investors, financial institutions, and companies...

Maersk’s profits grew, but a return via Suez may squeeze margins [1]

Maersk posted an operating profit of USD 3.3 billion...

Shooting Star Candlestick: How to Read It Without Trading the Shape Alone

A shooting star candlestick can warn that an upward...
spot_img