Robert Habeck, Germany's economy minister, said the country's federal government is trying to keep energy supplies stable, but warned of possible industry shutdowns and job losses if gas reserves run low in the winter.
Robert Habeck is the federal minister for the economy and climate protection.
In an interview with German magazine, Habeck said that Germany has never been in a situation like the current gas crisis and that the government was trying to procure replacements and expand its natural gas infrastructure.
Habeck once again urged the Germans to cut back on their gas use.
If there isn't enough gas, some industries that consume the fuel will have to be shut down, which could be catastrophic, according to the minister.
He said that the impact of a shutdown will be felt for a long time, not just two days or weeks.
More people will feel the pinch of the gas shortage and high prices as the cost is gradually passed down to the consumers.
The minister said that the Russian leader was trying to increase security and fear by keeping gas prices high.
Speaking at a press conference on Thursday, Habeck pointed to a chart projecting a deplete in the country's gas storage levels and said: "If this minus gets so big that they can't carry it anymore, the whole market is in danger of collapsing at some point..." The global financial crisis and the Great Recession were caused by the collapse of Lehman Brothers.
Just a day after Germany triggered the second phase of its three-stage gas emergency plan in response to a reduction in the flow of gas from Russia, Habeck warned of dire consequences. The country has more gas in storage this year than it did last year. The German government had to make more moves to make sure it met its target storage level. The drop in gas supplies was called an economic attack by the minister. Germany may be forced to use the final phase of the plan, where the federal government takes over the distribution of gas, if the gas supply is not secured. According to the Russian state-run gas company, equipment issues are to blame for the reduced supplies. After they refused to comply with Moscow's mandate to pay for the gas using a rubles bank account, they stopped supplies to Poland.
Russian President Putin wants our country to fall.
Germany dislikes the economic attack by Putin.
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