Germany will lose 5 billion euros each year due to Russian gas restrictions

• Russia’s decision to stop supplying Gazprom Germania with gas could cost Germany up to $5.4 billion a year in lost revenue, the report says.
• Gazprom stopped supplying the company in May after Berlin put it under trustee management due to Russia’s invasion of Ukraine.

Russia’s approvals against Gazprom Germania and its auxiliaries could cost German citizens and gas clients in Germany an additional 5 billion euros ($5.4 billion) a year to pay for substitution gas, the Welt am Sonntag week after week revealed, referring to industry delegates.

In May, Russia chose to quit providing Gazprom Germania, which had been the German auxiliary of Gazprom, after Berlin put the organization under legal administrator the executives because of Russia’s attack of Ukraine.

From that point forward, the Bundesnetzagentur energy controller, going about as legal administrator, has needed to purchase substitution gas available to satisfy supply contracts with German metropolitan utilities and provincial providers.

The economy service gauges an additional 10 million cubic meters each day are required, said a service representative, affirming a number referred to by the paper.

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“The amounts are obtained available and at market costs. No data can be given on the specific sums because of business secrecy,” said the representative in a message reaction.

Welt am Sonntag said the ongoing expense would be around 3.5 billion euros per year and that further expenses could emerge from the filling of the Rehden petroleum gas storage space which Economy Minister Robert Habeck requested on Wednesday, it said.

The paper likewise said the extra expenses would be given to energy providers and end clients as a gas demand from October.

The service representative said supplies were not in danger.

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