Global production capacity is on the order of 200 GW, that dwarfs the deficit from reduced natural gas imports from Russia.
And that LNG facility was my point, that’s far less useful once Russia’s pipelines open up again. It’s a massive investment with limited long term gain on top of also paying higher natural gas prices.
> And that LNG facility was my point, that’s far less useful once Russia’s pipelines open up again. It’s a massive investment with limited long term gain on top of also paying higher natural gas prices.
It is strategic. Sometimes you do need to pay more to keep some options open and diversify your sources. The last year has shown how foolish it would be to get back in bed with Russia. Buying their gas is fine, getting dependent on it is not.
Germany did complete some energy projects in record time, such as the construction of a new LNG facility to enable more gas imports by ship.