Germany Reconsiders Drilling Ban on Oil, Gas Wells in North Sea

Germany Reconsiders Drilling Ban on Oil, Gas Wells in North Sea

In its struggle to secure energy supplies, Germany will have to reconsider its ban on allowing new drilling activities for oil and gas in the North Sea, Finance Minister Christian Lindner told Reuters.

A coalition deal was signed between Chancellor Olaf Scholz’s Social Democrats, the Greens, and Lindner’s Free Democrats (FDP) stated that Germany will not grant any new permits for oil and gas drilling in the North Sea beyond the existing framework.

“We have to question the decision in the coalition agreement,” he told the Tagesspiegel newspaper. “Due to global market prices developments, this looks more economical.”

This decision came as a part of Germany’s efforts to reduce its dependence on Russian oil and find other alternatives for energy supply. It is also proceeding to build its first liquefied natural gas (LNG) terminal.

“Against the changed geopolitical background, I think it is advisable to examine the entire energy strategy of our country without any prohibitions on thinking,” he said.

However, Lindner declined to temporarily cut sales tax from 19% to 7% for petrol and diesel, a move that some politicians were pushing for due to price hikes.


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