"In just eight months, we became independent from Russian gas, Russian oil and Russian coal. In just eight months we totally changed our energy supply with the help of new compounds and liquefied gas terminals. And nobody had to freeze," Olaf Scholz said during a Bundestag session
The German authorities had earlier announced their plans to build a total of five national floating storage and regasification units for liquefied natural gas. Scholz further underlined their significance in ending German dependency on Russian fuel.
After Russia began its special military operation in Ukraine, the West actively searched for ways to limit Moscow's energy-related income, notably from oil and gas. Moreover, the Ukraine conflict also stopped the flow of Russian gas to Europe.
The situation deteriorated even further following the blasts on the Nord Stream pipelines. Russia immediately stated that they constituted an attack coordinated by the West, while Washington and London tried to divert the blame with a vast media campaign. At the same time, Germany, Denmark, and Sweden barred Russia from their investigations, raising concerns about the nature of the attack.
A bombshell report published by Pulitzer Prize-winner Seymour Hersh noted that the explosion was orchestrated by the Biden administration.
The sanctions against Moscow and the Nord Stream attack led to a spike in energy prices and shortages, forcing countries to look for alternatives, in particular, the United States and its LNG exports - despite the fact it cost significantly more than Russian deliveries.
In March, Shell CEO Wael Sawan said that LNG imports in Europe increased by 60% in 2022. He noted that Germany has made significant improvements in its capacity to import more LNG supplies, adding that there were two LNG terminals that had come online, but soon the country should have four LNG terminals operating.