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Germany Introduces New Gas Targets to Escape Russian "Blackmail"

Friday, July 22, 2022
Germany Introduces New Gas Targets to Escape Russian © Reuters

By Geoffrey Smith

Investing.com -- The German government announced new measures to cut down on natural gas usage over the coming winter and thus escape "blackmail" by Russia, the latest sign that Europe's largest economy is preparing for a lengthy confrontation with Russia over its invasion of Ukraine.

Vice-Chancellor and Economy Minister Robert Habeck said the country will demand that gas storage operators fill their facilities further and faster than previously foreseen, while also announcing the reactivation of some of the country's most polluting power stations in order to reduce the amount of gas burned for electricity generation this winter.

Habeck said Germany's storage facilities, which are currently around 65% full, will have to be 75% full by the start of September, rising to 85% and 95% over the following two months. This is to avoid more dramatic rationing of supplies - notably to industrial consumers such as chemicals giant BASF or the automotive sector - over the coming winter.

The accelerated timetable for filling storage pushed up the front end of Europe's gas futures curve, reversing a sharp drop at the opening that happened as Gazprom (MCX:GAZP) confirmed the resumption of supplies through the Nord Stream pipeline after the end of a scheduled maintenance period. Longer-dated futures weakened, however, on expectations that the peak demand season in the middle of winter will be more manageable.

Habeck, who represents Germany's Green Party, also confirmed that the country will reactivate its reserve of brown coal-fired power stations from October, in another stark illustration of how the near-term energy crisis has displaced longer-term climate change at the top of the government's list of priorities.

At the same time, Habeck also sketched out more measures on how to conserve gas through the winter. Under one such measure, public buildings will not heat their corridors, and tenants will be freed from the obligation to keep their apartments above a certain temperature, a common element of many rental contracts designed to safeguard the fabric of buildings and their piping. On current projections, he estimated that the country will be able to cut its gas consumption by around 7% to 8% from last year, although the actual decline will be greater due to the mildness of the last winter.

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16-08-2022 20:52:01 (UTC+7)

EUR/USD

1.0165

+0.0005 (+0.05%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (1)

EUR/USD

1.0165

+0.0005 (+0.05%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (1)

GBP/USD

1.2075

+0.0021 (+0.17%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (1)

USD/JPY

134.54

+1.23 (+0.92%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (4)

AUD/USD

0.7015

-0.0007 (-0.10%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (3)

USD/CAD

1.2879

-0.0025 (-0.19%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

EUR/JPY

136.77

+1.32 (+0.97%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (4)

EUR/CHF

0.9651

+0.0037 (+0.38%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (5)

Gold Futures

1,789.95

-8.15 (-0.45%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Silver Futures

20.087

-0.185 (-0.91%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (7)

Copper Futures

3.6350

+0.0175 (+0.48%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (1)

Crude Oil WTI Futures

89.64

+0.23 (+0.26%)

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↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

95.17

+0.07 (+0.07%)

Summary

↑ Buy

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Natural Gas Futures

9.221

+0.493 (+5.65%)

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↑ Buy

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Indicators:

Buy (7)

Sell (1)

US Coffee C Futures

222.30

-3.20 (-1.42%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (5)

Sell (1)

Euro Stoxx 50

3,787.45

-2.17 (-0.06%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,285.20

-11.94 (-0.28%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

13,826.92

+10.31 (+0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (8)

FTSE 100

7,548.65

+39.50 (+0.53%)

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↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

Hang Seng

19,830.52

-210.34 (-1.05%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

US Small Cap 2000

2,004.50

-15.90 (-0.79%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (10)

IBEX 35

8,497.89

+70.89 (+0.84%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (3)

BASF SE NA O.N.

44.110

+0.050 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Bayer AG NA

54.03

+0.47 (+0.88%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (1)

Sell (6)

Allianz SE VNA O.N.

179.42

+0.64 (+0.36%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (8)

Adidas AG

170.08

-2.86 (-1.65%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Lufthansa AG

6.697

-0.037 (-0.55%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Siemens AG Class N

111.24

-0.96 (-0.86%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (9)

Deutsche Bank AG

8.972

+0.030 (+0.34%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (0)

Sell (9)

    EUR/USD 1.0165 Buy  
    GBP/USD 1.2075 ↑ Buy  
    USD/JPY 134.54 Neutral  
    AUD/USD 0.7015 Neutral  
    USD/CAD 1.2879 ↑ Sell  
    EUR/JPY 136.77 Neutral  
    EUR/CHF 0.9651 Neutral  
    Gold 1,789.95 ↑ Sell  
    Silver 20.087 Sell  
    Copper 3.6350 ↑ Buy  
    Crude Oil WTI 89.64 ↑ Buy  
    Brent Oil 95.17 ↑ Buy  
    Natural Gas 9.221 ↑ Buy  
    US Coffee C 222.30 Buy  
    Euro Stoxx 50 3,787.45 ↑ Sell  
    S&P 500 4,285.20 ↑ Sell  
    DAX 13,826.92 ↑ Sell  
    FTSE 100 7,548.65 ↑ Sell  
    Hang Seng 19,830.52 ↑ Buy  
    Small Cap 2000 2,004.50 ↑ Sell  
    IBEX 35 8,497.89 ↑ Buy  
    BASF 44.110 ↑ Sell  
    Bayer 54.03 ↑ Sell  
    Allianz 179.42 ↑ Sell  
    Adidas 170.08 ↑ Sell  
    Lufthansa 6.697 ↑ Sell  
    Siemens AG 111.24 ↑ Sell  
    Deutsche Bank AG 8.972 ↑ Sell  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,580/ 6,680
(-10/ -10) # 1,639
SJC HCM6,600/ 6,700
(-10/ -10) # 1,659
SJC Hanoi6,600/ 6,702
(-10/ -10) # 1,661
SJC Danang6,600/ 6,702
(-10/ -10) # 1,661
SJC Nhatrang6,600/ 6,702
(-10/ -10) # 1,661
SJC Cantho6,600/ 6,702
(-10/ -10) # 1,661
Cập nhật 16-08-2022 20:52:04
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ↀ Giá vàng thế giới
$1,775.10 -3.38 -0.19%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI $89.02 -1.22 -1.38%
Brent $94.67 -1.7 -1.83%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.230,0023.540,00
EUR23.145,5524.441,71
GBP27.456,8428.627,78
JPY171,08181,12
KRW15,4318,80
Cập nhật lúc 18:54:08 16/08/2022
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