Bloomberg: Germany Secures Just One Tanker of Gas During Scholz’s Gulf Tour
German Chancellor Olaf Scholz secured just one shipment of liquefied natural gas from the United Arab Emirates, with a non-binding agreement for more, as Europe’s biggest economy struggles to replace Russian supplies.
The cargo -- 137,000 cubic meters -- will be delivered by Abu Dhabi National Oil Co. to German utility RWE AG by early 2023. ADNOC also signed a memorandum of understanding to make more deliveries next year. An ensuing trip to Qatar didn’t immediately yield any more deals.
Securing additional supplies is crucial for Germany after the Kremlin shut down a key pipeline. Officials have grown increasingly concerned about blackouts and rationing this winter, and the economy is hurtling toward a recession. The deal announced Sunday shows how difficult it will be for the country to get more gas in the near-term.
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WNU Editor: So much for this summer's reassurances from German Chancellor Olaf Scholz and his ministers that they would succeed in finding alternatives to Russian gas. They lied. But at least he got one tanker from Qatar, and maybe a few more next year, albeit at a record high price.
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