Omega Management logo

Germany triggers gas alarm stage, accuses Russia of ‘economic attack’

Pipes at the landfall facilities of the ‘Nord Stream 1’ gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal Hanschke//File Photo

Register now for FREE unlimited access to Reuters.com

Register

  • West, Russia in energy standoff since Ukraine invasion
  • German minister warns of ‘rocky road’ ahead
  • Minister does not rule out gas rationing
  • Says market threatened by ‘Lehman Brothers’ moment
  • Alarm stage decision does not change status quo: E.ON

BERLIN, June 23 (Reuters) – Germany triggered the “alarm stage” of its emergency gas plan on Thursday in response to falling Russian supplies but stopped short of allowing utilities to pass on soaring energy costs to customers in Europe’s largest economy.

The measure is the latest escalation in a standoff between Europe and Moscow since the Russian invasion of Ukraine that has exposed the bloc’s dependence on Russian gas supplies and sparked a frantic search for alternative energy…

Read more…