• Fears grow that Russia will further reduce gas supplies to the largest economy in Europe.
• Germany declares stage 2 when there is a high likelihood of long-term gas supply shortages.
• The nation’s energy security continues to be protected, but “the situation is tense”.

Germany has entered phase 2 of its three-phase gas emergency plan, as fears grow that Russia will further reduce gas supplies to the largest economy in Europe.

Robert Habeck, the minister of the economy, stated that there is a “gas crisis” and that it has become “a scarce commodity.”

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“Prices are already high and we must prepare for further increases,” he said.

The German government declares stage two when there is a high likelihood of long-term gas supply shortages.

According to a statement from Habeck’s ministry, the nation’s energy security continues to be protected, but “the situation is tense.”

Russia’s curtailment in gas supply through the Nord Stream 1 pipeline beneath the Baltic Sea since mid-June and the high price of gas on global markets were cited as the reasons for announcing phase 2.

In excess of a year ago, the gas storage was 58% filled. Nonetheless, the ministry stated that if Russian gas exports through Nord Stream 1 remain at a low level of 40%, it will be “hardly be possible to fill storage to 90 percent by December, without additional measures.”

Nonetheless, the ministry stated that if Russian gas exports through Nord Stream 1 remain at a low level of 40%, it will be “hardly be possible to fill storage to 90 percent by December, without additional measures.”

“That means there is a gas supply disruption which could lead to a significant deterioration in the gas supply situation,” it said. This resulted in the implementation of phase 2 of the emergency plan.

Habeck said: “Even though the gas volumes can currently be procured on the market and put in storage, the situation is serious, and the winter will come.”

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He noted that the cut in gas supplies represented an “economic attack by Putin.” Putin’s objective is evidently to sow uncertainty, drive up prices, and divide our community.