German minister criticizes U.S. over ‘astronomical’ natural gas prices

[beijingwalker]

German minister criticizes U.S. over ‘astronomical’ natural gas prices​

PUBLISHED WED, OCT 5 20224:43 AM EDT
Holly Ellyatt

KEY POINTS

• Germany’s economy minister has accused the U.S. and other “friendly” gas supplier states of astronomical prices for their supplies.
• He suggested some gas suppliers were profiting from the fallout from the war in Ukraine which has sent global energy prices soaring.

Germany’s economy minister accused the U.S. and other “friendly” gas supplier states of astronomical prices for their supplies, suggesting they were profiting from the fallout from the war in Ukraine.

“Some countries, including friendly ones, sometimes achieve astronomical prices [for their gas]. Of course, that brings with it problems that we have to talk about,” Economy Minister Robert Habeck told regional German paper NOZ in an interview published Wednesday which was translated by NBC News. He called for more solidarity from the U.S. when it comes to assisting its energy-pressed allies in Europe.

“The United States contacted us when oil prices shot up, and the national oil reserves in Europe were tapped as a result. I think such solidarity would also be good for curbing gas prices,” he said.

CNBC contacted the White House for a response to the comments and is awaiting a reply.

Habeck, co-leader of Germany’s Green Party, which is a part of Berlin’s coalition government led by center-left Chancellor Olaf Scholz, said the EU should also do more to address the region’s gas crisis, with countries scrambling for alternative supplies which has pressured prices even more, that was brought about by the war in Ukraine and deteriorating relations with Russia.

Moscow’s state-owned gas giant, Gazprom, has cut supplies to the bloc drastically over the last few months, largely due to international sanctions and a desire to punish Europe — the EU used to import around 45% of its gas supplies from Russia but is seeking to halt all imports — for supporting Kyiv.

Habeck said the EU “should pool its market power and orchestrate smart and synchronized purchasing behavior by the EU states so that individual EU countries do not outbid each other and drive up world market prices.”

European market power is “enormous,” it just has to be used, he noted, according to the German news outlet.

Europe is facing a hard winter with gas shortages predicted across the region. Countries like Germany have been largely dependent on Russian gas supplies for decades with massive energy infrastructure, such as the Nord Stream 1 and 2 gas pipelines, designed to bring gas from Russia to Germany via the Baltic Sea.

While the $11 billion Nord Stream 2 pipeline was never even launched, with Germany refusing to certify the pipeline following Russia’s invasion of Ukraine in February, Nord Stream 1 has become a pawn in souring relations between Moscow and Brussels.

Over the summer, gas supplies via the pipeline stopped and started seemingly at Moscow’s whim, although it invariably cited the need for maintenance and sanctions as a reason for halting supplies. But then supplies came to a halt in September.

More recently, Russia and Europe’s energy ties have literally been damaged with the Nord Stream pipelines suffering leaks last month under suspicious circumstances.

Russia denied it had sabotaged the pipelines, with reported underwater explosions damaging the pipes in several places, sending natural gas spewing into the Baltic Sea. The damage prompted an international outcry with the EU vowing a “robust” response to attacks on its energy infrastructure.

German minister criticizes U.S. over 'astronomical' natural gas prices

Germany's economy minister has accused the U.S. and other "friendly" gas supplier states of astronomical prices for their supplies

www.cnbc.com

 

[beijingwalker]

A friend in need is a friend indeed, it turned out that Russia was the best friend of Europe for the past decades.

 

[Beast]

A friend in need is a friend indeed, it turned out that Russia was the best friend of Europe for the past decades.

Dont worry, troll like @Viet will claim US is savior of Germany. Paying such astronomical price is fully justify. All Germans are very happy with such outcome.

 

[Yongpeng Sun-Tastaufen]

Dont worry, troll like @Viet will claim US is savior of Germany. Paying such astronomical price is fully justify. All Germans are very happy with such outcome.

Germans are slaves after WW2.

 

[jamal18]

Yes, Habeck, you servile slave. The US has got you plugged in to the 'North American energy platform' ( Condoleesa Rice); do you think that the US companies are going to show you any mercy?

Yes, allow the US to dictate your strategy, agree with them when they say they will blow up your gas pipelines, now cry like a baby when you are at their mercy.

The end of Germany as an economic power; it was built on cheap Russian piped gas. See how much you export when using highly expensive, over prices American LNG.

The US ordered you to jump over a cliff, and you jumped.

 

[beijingwalker]

Dont worry, troll like @Viet will claim US is savior of Germany. Paying such astronomical price is fully justify. All Germans are very happy with such outcome.

A slave in need is a slave indeed.

 

[Beast]

Yes, Habeck, you servile slave. The US has got you plugged in to the 'North American energy platform' ( Condoleesa Rice); do you think that the US companies are going to show you any mercy?

Yes, allow the US to dictate your strategy, agree with them when they say they will blow up your gas pipelines, now cry like a baby when you are at their mercy.

The end of Germany as an economic power; it was built on cheap Russian piped gas. See how much you export when using highly expensive, over prices American LNG.

The US ordered you to jump over a cliff, and you jumped.

Thank you USA, I @Viet are willing to be your slave. At your service and command. The interest of Germany is secondary.

 

[MajesticPug]

Dont worry, troll like @Viet will claim US is savior of Germany. Paying such astronomical price is fully justify. All Germans are very happy with such outcome.

US is a pioneer in using cyber trolls to spread misinformation. Since the mid 1990's, I bet. I'm not surprised he's a troll.

 

[MH.Yang]

Xi: Mr. Biden, I want to learn three American technologies. I hope you can teach me. First of all, I want to learn how you blew up the Nord Stream pipeline.

Biden: Mr. Xi, the USA did not blow up the Nord Stream. Don't you see that every European country thinks we didn't do it?

Xi: Great, this is the second technology I want to learn. How did you do it?

Biden: Mr. Xi, I warn you. If you continue to talk to me like this, I will let the whole world think that you blew up Nord Stream!

Xi: Great, this is the third technology I want to learn.

 

[Viet]

Thank you USA, I @Viet are willing to be your slave. At your service and command. The interest of Germany is secondary.

What you mean with slave? This energy war against Europe is welcomed by Ccp. I would not be surprised chinese stand behind Putin. You encourage him to go to war. You profit from other people sufferings.

Very regrettable.

 

[MH.Yang]

What you mean with slave? This energy war against Europe is welcomed by Ccp. I would not be surprised chinese stand behind Putin. You encourage him to go to war. You profit from other people sufferings.

Very regrettable.

It is clear that the USA is oppressing Germany.

The USA not only strengthened its control over Germany by destroying its sovereignty, hit its economy and industry, but also weakened Germany's influence on the EU.

If I am not wrong, the USA will continue to exert greater pressure on Germany to force Germany to yield and formally admit that Russia attacked Nord Stream.

For example, attack Germany through EU countries. The first choice should be Poland. Let Poland ask Germany to compensate for WW2. This will not only damage Germany's leadership over the EU, but also split the unity of the EU, and remind Germany that it was once an accomplice of the Russians, and the two countries split Poland together.

 

[Viet]

It is clear that the USA is oppressing Germany.

The USA not only strengthened its control over Germany by destroying its sovereignty, hit its economy and industry, but also weakened Germany's influence on the EU.

If I am not wrong, the USA will continue to exert greater pressure on Germany to force Germany to yield and formally admit that Russia attacked Nord Stream.

For example, attack Germany through EU countries. The first choice should be Poland. Let Poland ask Germany to compensate for WW2. This will not only damage Germany's leadership over the EU, but also split the unity of the EU, and remind Germany that it was once an accomplice of the Russians, and the two countries split Poland together.

That’s a cheap excuse. The fact is, Habeck is of Green Party. They are the forerunner of shutting down nuclear power plants, shutting down coal power plant. Than the conservative of Merkel. She set everything on gas imports from Russia. Simply stupid. Now the war and energy shortages. Market reaction, if there is a supply problem, someone will profit, someone will lose.
Habeck can complain himself.

 

[beijingwalker]

That’s a cheap excuse. The fact is, Habeck is of Green Party. They are the forerunner of shutting down nuclear power plants, shutting down coal power plant. Than the conservative of Merkel. She set everything on gas imports from Russia. Simply stupid. Now the war and energy shortages. Market reaction, if there is a supply problem someone will profit, someone will lose.
Habeck can complain himself.

Do you at least now admit that Germany and EU are in trouble?

 

[Viet]

Do you at least now admit that Germany and EU are in trouble?

Germany is in trouble, the EU is deep in disaster. Yes we are in deep shit. The worst is yet to come.

 

[khansaheeb]

German minister criticizes U.S. over ‘astronomical’ natural gas prices​

PUBLISHED WED, OCT 5 20224:43 AM EDT
Holly Ellyatt

KEY POINTS

• Germany’s economy minister has accused the U.S. and other “friendly” gas supplier states of astronomical prices for their supplies.
• He suggested some gas suppliers were profiting from the fallout from the war in Ukraine which has sent global energy prices soaring.

Germany’s economy minister accused the U.S. and other “friendly” gas supplier states of astronomical prices for their supplies, suggesting they were profiting from the fallout from the war in Ukraine.

“Some countries, including friendly ones, sometimes achieve astronomical prices [for their gas]. Of course, that brings with it problems that we have to talk about,” Economy Minister Robert Habeck told regional German paper NOZ in an interview published Wednesday which was translated by NBC News. He called for more solidarity from the U.S. when it comes to assisting its energy-pressed allies in Europe.

“The United States contacted us when oil prices shot up, and the national oil reserves in Europe were tapped as a result. I think such solidarity would also be good for curbing gas prices,” he said.

CNBC contacted the White House for a response to the comments and is awaiting a reply.

Habeck, co-leader of Germany’s Green Party, which is a part of Berlin’s coalition government led by center-left Chancellor Olaf Scholz, said the EU should also do more to address the region’s gas crisis, with countries scrambling for alternative supplies which has pressured prices even more, that was brought about by the war in Ukraine and deteriorating relations with Russia.

Moscow’s state-owned gas giant, Gazprom, has cut supplies to the bloc drastically over the last few months, largely due to international sanctions and a desire to punish Europe — the EU used to import around 45% of its gas supplies from Russia but is seeking to halt all imports — for supporting Kyiv.

Habeck said the EU “should pool its market power and orchestrate smart and synchronized purchasing behavior by the EU states so that individual EU countries do not outbid each other and drive up world market prices.”

European market power is “enormous,” it just has to be used, he noted, according to the German news outlet.

Europe is facing a hard winter with gas shortages predicted across the region. Countries like Germany have been largely dependent on Russian gas supplies for decades with massive energy infrastructure, such as the Nord Stream 1 and 2 gas pipelines, designed to bring gas from Russia to Germany via the Baltic Sea.

While the $11 billion Nord Stream 2 pipeline was never even launched, with Germany refusing to certify the pipeline following Russia’s invasion of Ukraine in February, Nord Stream 1 has become a pawn in souring relations between Moscow and Brussels.

Over the summer, gas supplies via the pipeline stopped and started seemingly at Moscow’s whim, although it invariably cited the need for maintenance and sanctions as a reason for halting supplies. But then supplies came to a halt in September.

More recently, Russia and Europe’s energy ties have literally been damaged with the Nord Stream pipelines suffering leaks last month under suspicious circumstances.

Russia denied it had sabotaged the pipelines, with reported underwater explosions damaging the pipes in several places, sending natural gas spewing into the Baltic Sea. The damage prompted an international outcry with the EU vowing a “robust” response to attacks on its energy infrastructure.

German minister criticizes U.S. over 'astronomical' natural gas prices

Germany's economy minister has accused the U.S. and other "friendly" gas supplier states of astronomical prices for their supplies

www.cnbc.com

It's called supply and demand.