German Chancellor Olaf Scholz said Russian President Vladimir Putin won't blackmail his country.
Germany opened its first state-chartered liquefied natural gas vessel as Europe’s largest economy races to replace Russian gas amid an energy crunch and freezing temperatures.
The launch also shows Germany plans to remain competitive in the international LNG market while remaining skeptical of the European-wide gas price cap being pursued by the European Commission. Scholz is worried LNG vessels could just aim for the highest bidder, leaving Europe with less supply. The vessel Hoegh Esperanza, a floating storage and regasification unit , has enough LNG to supply 50,000 German households. With a second vessel set to start operations this winter in Brunsbuettel, along with three more state-chartered facilities and a private one in Lubmin, about a third of Germany’s gas demand could be fulfilled.
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