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Germany Years Away From Replacing Russian Gas โ€” Official

Germany is a long way from fully substituting Russian pipeline gas supplies with liquefied natural gas (LNG), estimates by the countryโ€™s Economy Ministry show.

According to a document published on the Bundestag website, Germany imported 55 billion cubic meters (bcm) of Russian natural gas in 2021. The document also shows that Germanyโ€™s new Floating Storage and Regasification Units (FSRUs), which are currently being installed in a number of ports to allow the import of LNG, may reach a similar capacity no sooner than in 2026.

By 2030, those capacities are projected to increase to 76.5 bcm, or about 80% of total German gas consumption in 2021. However, the ministry notes that even once the terminals go online, the global LNG market may not have enough capacity to cover additional demand, which could push these date...

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