Germany to Spend Another $2.5 Billion on LNG to Ease Crisis
- Germany has set aside total of $15 billion in credit lines
- Berlin is redesigning its energy policy since Russia’s war
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The German government released another 2.5 billion euros ($2.5 billion) of credit lines to secure gas supplies, as it writes off Russia as a reliable energy supplier.
Racing to replace Russian gas supplies with alternative sources, Germany had set aside a total of 15 billion euros in credit lines -- to be disbursed in tranches. Now the first 1.5 billion euros have been nearly exhausted, the government has added another 2.5 billion euros to buy liquefied natural gas, according to a document seen by Bloomberg.