The German finance minister is open to further oil and gas drilling in the North Sea

 The German finance minister is open to further oil and gas drilling in the North Sea.


Germany should rethink its prohibition on using new drilling for oil and gas in the North Sea as it strives to reduce its dependence on Russian energy due to Ukraine's invasion, according to Finance Minister Christian Lindner on Sunday.

Germany will not grant any new authorizations for oil and gas drilling in the North Sea beyond the current scope under the coalition agreement between Chancellor Olaf Scholz's Social Democrats, the Greens, and Lindner's Free Democrats (FDP).

"We must put out a doubt about the coalition decision," Lindner told the Tagesspiegel newspaper. "This is because to global market prices, and this appears more economical."

Germany, which is dependent on Russia for about two-thirds of its natural gas imports, is urgently seeking to further strengthen alternative energy sources, such as the construction of its first liquefied natural gas terminal. Lindner, however, said at least for a transitional period, Europe's largest economy will still need oil and gas.


"It's advisable to examine our country's entire energy strategy without any hesitation," he said.

Despite the substantial increase in petrol prices, Lindner rejected a temporary sales tax reduction from 19% to 7% for gasoline and diesel, as suggested by several politicians.

"If conservatives want a fuel price reduction, they must say what they want to reduce in the budget. Or, they are prepared to repay more money for this," he said, adding that he was also opposed to imposing a speed limit on German autoways.

 The German finance minister is open to further oil and gas drilling in the North Sea.


Post a Comment

Previous Post Next Post