Germany’s Economics Minister Robert Habeck has warned of possible consequences for the country’s industry if precautions are not taken to secure energy supplies. Habeck made the remarks during the East German Economic Forum in Bad Saarow. He expressed the possibility that Germany could be forced to downsize or close its industrial facilities if Russian gas supplies via Ukraine are disrupted when the transit agreement between the two countries expires at the end of next year.
The minister urged German politicians not to make the same mistake of underestimating the impact on the German economy if measures are not taken to secure energy supplies from other sources. He also mentioned the possibility that Germany may have to export gas to Eastern European countries to compensate for energy shortages, which in turn could lead to a shortage of gas for production in Germany.
Habeck highlighted the need for additional energy capacity to supply gas to Germany’s eastern regions and Eastern European countries. In this regard, he raised the possibility of opening a liquefied natural gas terminal on Germany’s northern coast, despite protests from residents and environmental groups.
The minister, a member of the Green Party, is known for his position in favor of alternative energy sources and his opposition to the prolonged use of nuclear power plants in Germany. He also opposes the Nord Stream 2 gas pipeline, considering it a surrender to Russia.
The German economy officially entered recession this May after two consecutive quarters of contraction, and the energy crisis in the country has been one of the causes of this situation. Germany is looking for solutions to import hydrogen from other countries and is exploring unproven technologies on a large scale.
In summary, Habeck warns of possible negative impacts on German industry if energy supplies are not secured and stresses the need for measures to compensate for shortages and diversify energy sources.