The suspension of Russian gas supplies to Poland and Bulgaria has so far had no impact on security of supply in Germany. The Federal Minister for Economic Affairs and Climate Action announced today that security of supply is currently guaranteed. All in all, gas flows are at a stable level at the moment. The storage facilities have also been slowly filling up again since 18 March. Storage levels today are at 33.53%. However, the situation is being monitored very closely; the Ministry is in close contact with the energy supply companies and with energy suppliers, and the gas crisis team is monitoring the supply situation intensively and assessing it in its daily situation report.

“The supply situation here is stable and we are doing our utmost to make sure it will remain so. Europe will stand together in solidarity and continue to diversify its gas supply. The goal in the European Union is to become independent of Russian energy imports as quickly as possible," said Federal Minister for Economic Affairs and Climate Action Robert Habeck.

According to the information available, the supply situation in Poland and Bulgaria is currently stable, as both countries can use other supply sources, including LNG. The supply situation in other European countries is also being closely monitored; the Member States are maintaining an intensive dialogue in the relevant European bodies such as the Gas Coordination Group.

According to the information available, the background to Russia's suspension of supplies to Poland and Bulgaria is to be found in the modalities for gas payments. Russia had ordered that payments could only be made in roubles. However, for reasons of contract compliance, Germany and other European countries are insisting that the companies' contracts will continue to be serviced in euros. "The private law contracts apply. Payments will continue to be made in euros and dollars," said Minister Habeck. It remains to be seen how Russia will interpret and apply its decree on gas payments in detail.

In this context, there is currently a case at a British subsidiary of Gazprom Germania in which there is uncertainty with payments processing. This concerns marginal gas volumes of about 0.2% of Russian import volumes to Europe, which are not being delivered from Russia at the moment. The company can replace this small quantity by purchasing gas on the market. In accordance with the contract, payment is to be made in euros.

Regarding payment details, Germany is following the guidelines of the European Commission published on 21 April 2022. This means that German companies will continue paying in euros or dollars for their gas. The euro or dollar payments by the companies can be made to a “K account” at Gazprom Bank in accordance with the European sanctions provisions. The companies declare that with the payment in euros and dollars the contractually owed performance has been fulfilled.