Bad American Fracking LNG Suddenly Not That Bad After All

In Germany. Not nearly as bad as it was a few days ago, in fact. Just like that. It’s magic or something. It’s fracking inexplicable!

Germany Goes Ahead With First LNG Terminal to Cut Dependence on Russian Gas – Germany unveiled more details Saturday on its plan to build its first liquefied natural-gas terminals as it seeks to wean itself off its dependence on Russian gas.

The terminals are the latest step in Berlin’s diversification efforts that have been urgently ramped up in recent days following Russia’s attack on Ukraine. Germany gets around 55% of its gas from Moscow and has long been resistant to diversifying away from cheap and plentiful Russian energy supplies.

Germany last week halted the $11 billion Nord Stream 2 project, which would have doubled the capacity of an existing pipeline traveling along a similar route. The government also announced plans for gas and coal storage and commissioned its gas market trading hub to buy LNG for 1.5 billion euros, or the equivalent of $1.64 billion, from outside Russia.

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