As Russia threatens to cut off the fossil gas on which much of Europe depends, the continent’s storage facilities are a crucial line of defence. So you’ll be glad to hear that Germany possesses a massive gas storage reservoir, under the town of Rehden, in Lower Saxony. The biggest strategic reserve in western Europe, it can hold enough fossil gas to supply 2 million households for a year.
You’ll be less delighted to discover who owns it. It belongs to a company called Astora. Astora is a subsidiary of the Russian state company Gazprom. Altogether, it owns about one-quarterof Germany’s gas stores. All of them are almost empty. They have been run down to 10% or less of their capacity. According to the German minister for economic affairs and climate action, these storage facilities have been “systematically emptied”.
Idiocy is nested within idiocy like a stack of Russian dolls. Germany has allowed private companies to control its strategic reserve, and has imposed no legal requirements on how much gas the reserve should hold. Nor has it prevented companies controlled by foreign states from owning it. Instead, like the UK, it has ceded this crucial security issue to a mysterious deity it calls “the market”.
With the Nord Stream 1 pipeline, Germany hooked itself to Russian gas, even as analysts warned that this might become a major strategic liability. Their warnings have been vindicated: this is the pipeline Russia is now threatening to shut in retaliation for sanctions. As if to reinforce its dependency, in 2005 Germany commissioned a second pipeline, Nord Stream 2. The approval was rushed through by Chancellor Gerhard Schröder, just before he left office. Within weeks, he was appointed to run the Nord Stream AG shareholder
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