Germany pushed on Monday to secure liquefied natural gas (LNG) contracts with Gulf producers and other European nations, emphasizing energy conservation measures, while Russian supplies are at very low levels as winter approaches, Reuters reported.

Berlin has said it plans to sign LNG contracts in the United Arab Emirates to supply terminals it is building now that Russia’s vital Nord Stream 1 gas pipeline has been shut down and Spain and France have outlined contingency plans to to try to avoid power outages, News.ro quotes. .

“If everything goes well, the savings in Germany are big and we get a bit lucky with the weather, we have … a chance to get through the winter comfortably,” Economy Minister Robert Habeck said after reviewing the future of LNG. Terminal in the north of Germany.

A sharp drop in supplies from Russia, which used to supply about 40 percent of the European Union’s gas needs, has left governments scrambling for alternative energy sources and raised fears of possible blackouts and recession.

Russia has blamed Western sanctions imposed on Moscow for its invasion of Ukraine to disrupt pipeline and turbine supplies.

European politicians say that Moscow is using energy as a weapon.

Germany’s RWE said it was in “good and constructive discussions” with Qatar over LNG supplies ahead of Chancellor Olaf Scholz’s planned visit to the Persian Gulf. Aggrieved importer Uniper said it has yet to reach an agreement.

Germany will also be able to count on gas from France from around October 10, the head of France’s energy regulator CRE said, following President Emmanuel Macron’s announcement that the two countries would help each other with energy supplies.

Although supplies through Nord Stream 1 have stopped, flows of Russian gas to Europe via Ukraine, albeit significantly reduced, continue.

In France, CRE chief Emmanuel Vargon said that if energy group EDF’s efforts to repair corroded nuclear reactors were delayed, “exceptional” measures this winter could include local blackouts.

“But there will be no reduction in gas supplies for households. Never,” she told franceinfo.

“Hard Winter”

In the Pyrenees, Spain’s industry minister, Reyes Maroto, said that this winter, if necessary, large energy-consuming companies could be forced to shut down during peak consumption.

The companies will receive financial compensation, she said in an interview with the Spanish news agency Europa Press, adding that there is no need to impose such closures now.

Fin has also been warned by national grid operator Fingrid that they should be prepared for blackouts.

Finnish energy trader Karhu Voima Oy has filed for bankruptcy amid soaring electricity prices.

Meanwhile in Germany, Habeck said Berlin would not allow major gas importers such as VNG to become insolvent, while a spokesman for the Economy Ministry said there were “targeted” talks with importer Uniper about the help it needed.

Germany’s economy is already shrinking and growth is likely to worsen in the winter months as gas consumption is cut or rationalized, the country’s central bank said on Monday.

In Portugal, the government has made its concerns clear.

“From one day to the next, we can have problems, such as undersupply of the planned amount of gas,” Environment and Energy Minister Duarte Cordeiro said, adding that Portugal is working to diversify supplies to increase energy. security

“Portugal, like all of Europe, has braced itself for what will be a tough winter,” he said, urging the European Commission to press ahead with plans for a common platform for EU gas purchases and import pricing.

Russia, which supplied about 40 percent of the European Union’s gas needs before its invasion of Ukraine in February, said it had shut down Nord Stream 1 because Western sanctions hampered its operations.

European politicians call this a pretext and accuse Moscow of using energy as a weapon.

German buyers briefly reserved capacity on Monday to receive Russian gas through the Nord Stream 1 pipeline, once a major gas route to Europe, for the first time since the pipeline was shut down three weeks ago. But soon they gave up the demands.

It was not immediately clear why buyers submitted requests for capacity when Russia gave no indication that it would resume supplies.

At the same time, Ukraine accused Russian troops of shelling near the South Ukrainian nuclear power plant in the Mykolaiv region.

Since its forces were driven out of Kharkiv, Russia has repeatedly shelled power plants, water infrastructure and other civilian targets in what Ukraine says is revenge for defeats on the ground.

Moscow denies that it deliberately targeted the civilian population.

“Back in Time”

According to Gas Infrastructure Europe, European gas storage facilities are currently 85.6% full, and Germany is almost 90% full.

Inventories will continue to build due to the completion of scheduled maintenance and increased Norwegian supplies starting this week,” analysts at Energi Danmark said in a morning note.

Analysts believe that coal imports to Europe in 2022 may become the highest in the last four years.

“Europe is going back in time,” Rodrigo Echeverri, director of research at Noble Resources, told the conference.

Oil prices were flat on Monday under pressure from expectations of a fall in global demand and a stronger US dollar ahead of a possible hike in key interest rates, although supply concerns capped falls, News.ro reported, citing Reuters.