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Germany Seeks to Boost Energy Security

ENERGY SECURITY
Political RiskCommoditiesPolitical Risk BulletEnergy BulletsBulletEnergy Technical Analysis

Germany has taken further steps to guard their energy security this week as the country’s lower house of parliament approved a new version of a bill to secure energy supply on Thursday. The amendments would also allow the German government to take over essential infrastructure and assets in the event of an emergency.

  • The renewed law still needs to pass the upper house of parliament and could be applied in the case of the Schwedt oil refinery, which is majority owned by Russia’s Rosneft. It is the final refinery in Germany still processing Russian oil.
  • If passed, the updated law is expected to come into effect in June. The law authorizes the government to take control over companies' energy production, transport and distribution of energy if supply is at risk.
  • The German government used a different legal basis to sustain operations at Gazprom Germania last month.
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Germany has taken further steps to guard their energy security this week as the country’s lower house of parliament approved a new version of a bill to secure energy supply on Thursday. The amendments would also allow the German government to take over essential infrastructure and assets in the event of an emergency.

  • The renewed law still needs to pass the upper house of parliament and could be applied in the case of the Schwedt oil refinery, which is majority owned by Russia’s Rosneft. It is the final refinery in Germany still processing Russian oil.
  • If passed, the updated law is expected to come into effect in June. The law authorizes the government to take control over companies' energy production, transport and distribution of energy if supply is at risk.
  • The German government used a different legal basis to sustain operations at Gazprom Germania last month.