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Live updates: Russia’s war in Ukraine

Live updates: Russia’s war in Ukraine

Russian President Vladimir Putin has failed to destroy German industry amid his war in Ukraine, Germany’s economy minister Robert Habeck told a Monday conference.  

“It was Putin’s plan to cause a meltdown of German industry, but his plan has failed,” Habeck told the energy conference in Berlin, hosted by the business newspaper Handelsblatt. 

Habeck added he hoped Germany’s energy crisis would be overcome by 2024, adding that thanks to the fast construction of gas import infrastructure, gas storage facilities were expected to be full for 2023 and into the winter of 2024. This would lead to “safe and stable” gas deliveries at “moderate prices,” Habeck added. 

After a short period of freezing temperatures in December, a warm January so far has helped to keep Germany’s gas storage facilities around 90% full, according to the country’s gas network regulator. 

While a shortage of gas this winter seems unlikely, the situation could still deteriorate, according to the network regulator’s website. 

If temperatures drop below zero degrees Celsius, Germany consumes around one percent of its gas storage per day,” Habeck warned. 

“If we succeed in coming out of the winter months with adequate gas storage levels, we won’t experience last year’s madness again,” he continued. 

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