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Canada and Germany have signed a deal promising green hydrogen by 2025. A lot needs to happen in that time to realize that goal. Hydrogen has the potential to replace gas and oil in transport and industry, but it is still expensive and dirty.
Many will hope the Gulf kingdom’s human rights record will be raised during Olaf Scholz’s visit. But the chancellor must prioritize energy security and arrest falling German exports to the wealthiest Middle East state.
Uniper’s situation has looked increasingly vulnerable following the closure of the Nord Stream 1 pipeline. Previously, Germany’s largest importer of natural gas said soaring energy prices had hit the company hard.
The German government is to become the majority shareholder in Uniper. As Germany’s largest gas importer, the company has burned through cash reserves after Russia cut off supplies.
German Economy Minister Robert Habeck said Germany has a chance of getting through the winter “comfortably” despite the lack of Russian gas. Germany is on track to meet a 95% storage capacity target by November.
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