The German government says it is dependent on Russian gas but is actively seeking alternatives to secure supplies for next winter.
Minister for Economic Affairs Robert Habeck said this over the weekend as EU mounts sanctions on Russia over the ongoing invasion of Ukraine.
“If we do not obtain more gas next winter and if deliveries from Russia were to be cut then we would not have enough gas to heat all our houses and keep all our industry going,” the minister warned in a chat with Deutschlandfunk radio.
Habeck added that the government of Europe’s biggest economy was preparing for the possibility of shortages “which we hope can be avoided.”
This comes as the European Union is considering placing an embargo on Russian oil and gas exports, just as the US did shortly after Putin’s government ordered “special military exercise” in Ukraine.
Habeck, who headed to Qatar shortly after the interview, announced on Monday that his country had secured an agreement with Qatar for the supply of liquefied natural gas (LNG) that will help Germany’s reliance on Russian energy.
“It is great that I can say it was firmly agreed to enter into a long-term energy partnership – a cooperation.
“The companies that are now involved in this journey will enter into contract negotiations with the Qatari side,” Habeck, who travelled to the Middle Eastern nation with some German business leaders, said.
The contract will do little to slow the current flow of European money into Russian coffers, estimated to be worth $285m (£217m) a day for oil alone, The Guardian reported.
Meanwhile, oil prices jumped more than $3 on Monday, with Brent crude climbing above $111 a barrel, Reuters reported.
Brent crude futures were up $3.40, or 3.2%, at $111.33 a barrel by 0958 GMT, adding to a 1.2% rise last Friday.
Also, U.S. West Texas Intermediate (WTI) crude futures rose $3.65, or 3.5%, to $108.35, extending a 1.7% jump last Friday.