BUSINESS
Germany and Netherlands Will Now Drill For Gas In North Sea, Offsetting Halt of Russian Supply
Yesterday, Russian state owned energy provider Gazprom cut off gas supplies to major buyers in Germany, Netherlands and Denmark, such as GasTerra, Orsted, and Shell. This decision was fueled by these companies refusing to renew contracts with Gazprom with the conditions that they pay for Russian gas in rubles. The combined gas flow from these contracts amounts to more than 4 billion cubic meters of gas a year.