Scholtz Confident German Gas Survives Winter

Germany is expected to survive the winter without any power supply interruptions according to German Chancellor Olaf Scholz over the weekend.

• He cited extended operations of coal-fired and nuclear power plants, high gas storage and LNG terminal success as reasons Germany is in a much better situation than previously feared.
• "These decisions have helped us to ensure the security of energy supplies in Germany and we will probably survive this winter," Scholz said.
• Germany last week completed construction of its first floating terminal for LNG at the North Sea port of Wilhelmshaven as it scrambles to secure more LNG and move away from Russian pipeline gas.
• German gas storage is nearing full capacity