This via AP overnight on news that on Thursday the German government has activated the second phase of its three-stage emergency plan for natural gas supplies
- warning that Europe’s biggest economy faces a “crisis” and storage targets for the winter are at risk
Follows Russia reducing energy deliveries to several countries
- last week reduced natural gas to Germany, Italy, Austria, the Czech Republic and Slovakia
Industrial customers are being asked to reduce the amount of natural gas they use
- “Even if we can’t feel it yet — we are in a gas crisis,” German Economy and Energy Minister Robert Habeck said.
This does not auger well for German industrial production.
Gas prices have come off the boil: