Germany may lift the ban on gas and oil production on the shelf
14.10.2022 - 14:40
The German government may lift the ban on shale gas and oil production in the North and Baltic seas.
The Federal Ministry of Economy no longer opposes oil and gas production in the North and Baltic Seas. This decision was caused by the energy supply crisis and the reduction of supplies due to the accident on the Nord Stream network, reports Handelsblatt.
There is now a coalition agreement between the SPD (Social Democrats), Union 90/Greens and SVDP (Free Democrats) in the German government, which prohibits the granting of new drilling permits. However, the current situation, namely the sharp rise in energy prices and the threat of fuel shortages in the winter heating period, may affect the course change.
The lifting of the ban will also increase the possibility of geological exploration projects in the German-Dutch part of the North Sea.
As previously reported by USM, the German government will completely stop the import of russian oil on December 31.
