Russian President Vladimir Putin is due to hold talks with central bank and Gazprom officials today about how Moscow’s demand for gas payments in rubles is to be implemented. But Putin has told German Chancellor Olaf Scholz payments could still be made in euros or dollars, and then be converted into rubles by Gazprom’s own bank. Berlin has asked for written clarification.
Uncertainty over the process has prompted Germany and other European countries to prepare for possible disruptions to gas flows.
With the invasion of Ukraine raising concerns about energy security, fossil fuel producers in countries including the United States are hoping for a boom. Despite President Biden’s plans to invest in renewable energy sources, the White House says the US expects to export more gas and oil to Europe.
DW’s Washington bureau chief Ines Pohl traveled to the state of North Dakota to find out how producers there hope to cash in on the renaissance in fossil fuels.
Europe is further planning to lean more heavily on liquified natural gas, or LNG, as it tries to break its dependence on Russian gas. One region is set to profit from Europe’s pivot to the fuel: The Iberian Peninsula.
00:00 Europe’s alternatives to Russian energy
02:13 Putin meets with Gazprom & central bank
06:33 Fossil fuel renaissance in North Dakota
09:23 Liquified natural gas from the Iberian Peninsula
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