• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours How Far Have We Really Gotten With Alternative Energy
  • 8 days What fool thought this was a good idea...
  • 11 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 6 days A question...
  • 11 days They pay YOU to TAKE Natural Gas
  • 17 days The United States produced more crude oil than any nation, at any time.
Kazakhstan Joins EU program to Help Promote a Green Transition

Kazakhstan Joins EU program to Help Promote a Green Transition

Kazakhstan is considering new procurement…

Germany’s Oil and Gas Production Continues to Drop

German oil and gas production fell again in 2023 compared to 2022, industry association BVEG said on Tuesday, calling for increased domestic production to reduce dependence on more emissions-generating LNG imports.

Last year, Germany’s oil production dropped by 5.9% year-over-year, while natural gas output slumped by 10.4%. 

The share of domestic gas supply of total German supply was 5.7%, while domestic oil production met about 2.2% of Germany’s oil consumption in 2023, figures by BVEG showed.

Germany’s oil and gas production peaked in the 1960s and 1990s, respectively. Output has been falling in recent decades, increasing the share of imports to meet demand.

Germany should maximize domestic oil and gas production, which would be extracted with 30% lower emissions compared to LNG imports, Ludwig Möhring, Managing Director at the BVEG association, said at a press conference. Higher domestic output would also boost the security of supplies and reduce dependence on imports, Möhring added.

The BVEG association groups the companies operating in Germany, including the local affiliates and joint ventures of ExxonMobil, Shell, Neptune Energy, and Wintershall Dea, among others.

Politicians must commit to decarbonization and at the same time to continuous domestic production, Möhring said.

Germany has faced two difficult years scrambling to secure gas supply with energy prices spiking after the Russian invasion of Ukraine and the halt of Russian pipeline gas exports to Germany.  

Last year, Germany imported the equivalent of 968 terawatt hours (TWh) of natural gas in 2023, down by 32.6% from the 1.437 TWh imports in 2022, as consumption also dropped, according to the country’s energy regulator Bundesnetzagentur. Norway was Germany’s top natural gas supplier last year, delivering as much as 43% of the imported gas, followed by the Netherlands with 26% and Belgium with 22%.

Germany’s industry is unlikely to fully recover from the energy price shock and return to the competitiveness from before the Russian invasion of Ukraine, the chief executive of Germany’s top utility, RWE, told the Financial Times last week.

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News