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Germany Backs New LNG Plants to Cut Russian Gas Dependence

  • Scholz says two LNG terminals will be built “quickly”
  • Move comes after Berlin shelves Nord Stream 2 pipeline
Bloomberg business news
Germany's Economy Minister Says Opposes Embargo on Russia Energy
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Germany pledged new support for liquefied natural gas terminals, the latest sign it’s willing to retool its energy policy in the wake of Russia’s invasion of Ukraine.

Just days after shelving an $11 billion pipeline project to bring Russian gas to Europe, Chancellor Olaf Scholz said Germany would move “quickly” to build two LNG terminals. So far proposed projects have been left to the private sector alone, and are facing headwinds without government support.