Some industrial furnaces in Germany have been running for a long time. The molten materials will break if they cool down suddenly.

Europe's largest economy is facing an energy crisis and is worried about that.

There was a time when the reduced supplies of Russian gas was seen as vague. After President Putin slashed flows on the main link to Europe, experts in the Chancellor's administration worked out scenarios that didn't lead to enough reserves to last through the winter.

The head of Germany's network regulator, Klaus Muller, said in an interview that it was a sad moment. It won't be pretty if we have a very cold winter and we're too generous with gas.

Cosmetics glass container manufacturer Heinz Glas
A glass furnace at a cosmetics production facility in Germany,

Beyond a recession and a winter of freezing homes, the risks are still there. Cheap gas has helped Germany prosper over the years. A new line to Russia was the answer to the growing economy.

The era of that company is over and they are adjusting to the new reality.

Structural issues loom as the transition to affordable renewable power is still years away.

BASF SE Says Chemical Industry Taking Big Hit From Virus Spread
BASF, Europe’s biggest chemicals maker, may cut output because of the rising cost of gas.

Firms making metals, paper and even food could be forced to downscale or close German production sites, which could lead to a steady exodus of manufacturing jobs and leave lasting damage to the country's economy.

WolfgangHahn said that companies will move production to where there's a competitive gas market. You can't fix 20 years of policy errors in a couple of years.

It would take 115 days to reach the government's target of filling gas reserves to 90% capacity by November, according to the latest figures.

The capacity of German gas storage is less than half.

The gas infrastructure is in Europe. June 22 was the last day of the month.

Germany, which still relies on Russia for more than a third of its gas supplies, raised its threat level to the second- highest level on Thursday. Germany could be forced to ration supplies if the squeeze gets tighter.

Next month is when the moment of truth is expected. Germany is worried that it may never return.

Robert Habeck said in an interview that he would have to lie if he said he didn't fear that.

The role of Lehman Brothers in triggering the financial crisis was similar to the gas squeeze, according to Germany's Vice Chancellor. There is a risk of a collapse if energy suppliers are forced to cover missing Russian supplies at high prices.

If Moscow prolongs or increases gas cuts, Uniper could face difficulties fulfilling supply contracts to local utilities and manufacturers.

Uniper SE Power Stations in The Rhine Coal Region
Uniper SE, Germany's largest Russian gas importer, has warned it may face difficulties.

There are 12 European Union member states affected and 10 issuing an early warning under gas security regulation. Poorer nations will be hit by Europe's increased demand for natural gas as they struggle to compete for cargo.

There is concern that Russia will cut off gas supplies to Europe.

The war economy must be declared by Europe.

In the event of gas rationing, a series of emergency measures, including two floating Liquefied Natural Gas terminals that will come online this winter, and auctions of excess fuel for industry, would be taken into account.

Sebastian Bleschke is the head of INES, the association of German storage operators. The window of opportunity is close for some sites.

It is difficult to get rid of Germany's gas demand. All of the company's glass-melting furnaces are open for more than a decade. 75% of normal gas consumption is needed to prevent the molten glass inside from seizing up and destroying the furnace.

Oliver said in an interview that this is not an option because they have nothing to sell. He said it would take a decade to rebuild if the furnaces broke.

It is difficult for economists to pin down the scope of the risk. Christine Lagarde said that 75% of what the bank got wrong was because of energy prices.

A 220 billion euro hit to output would be caused by an immediate halt to Russian imports of oil and natural gas, according to the German economic institute.

If Russian energy supplies stop, Germany's economy will shrink more than 3%, according to the bank. It would be the worst slump since the global financial crisis.

Potential German GDP losses due to production cutbacks in the case of natural gas rationing*

The bank is called the Bundesbank.

Confidence is crumbling and manufacturing orders have fallen for the past three months. Business expectations fell this month, according to the Ifo Institute.

Companies are anticipating a reduction in energy for a long time. The rising cost of gas may lead to a reduction in output by Europe's biggest chemicals maker. BMW may burn gas in its own power plants instead of buying electricity.

It would be five times less efficient to switch production from gas to oil. It wouldn't be adurable solution.

Consumers and businesses in Germany are prepared for the future. If people don't save money and energy, they could face double or tripling of their gas bills. Habeck appealed to Germans to stand together.

He responded to the suggestion of a state bonus for saving gas by saying: "You're not getting it, dude."

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Carolynn Look, Monica Raymunt, and Milda Seputyte assisted.