stare sector in crisis rushes. invasion of ukraine has delivered a shock to oil and gas markets and energy firms are under pressure to take a stand against moscow. governments are also planning to turn up the heat. international sanctions against russia have so far excluded the country's energy sector, but that's about to change. the u. s. and europe are exploring a ban on imports of russian oil and gas. attendees of sarah week and annual energy conference in houston are discussing how to replace russian supply. now i see that the u. s. is, is looking to venezuela is considering getting increased production from venezuela? well, those barrels could have come from canada. melbourne, canada says it has spear pipeline and rail capacity and can move more oil to the united states. washington would be in dire need as its own. rigs are currently operating at 25 percent below pre pandemic levels and can't make up for the

shortfall. opec plus producers have also fallen short of their target at supply increases as of late a ban on russian resources, however, would not only impact energy supplies. i'm in the mining business in russia is one the world's largest suppliers, nickel and palladium. most of them are heavily used in the automobile industry and in the auto catalyst industry is a large supplier of pot out. and it's a large wire, obviously of oil and gas rush us war and ukraine hits the energy sector at a crucial time as it was already reorganizing to slowly move away from fossil fuels . for now, it's unclear if that transition will be accelerated. i will, sanity really is in more sustainable and rely losing fusions and avoiding improving sustainability was supposed to be the main theme of sarah a week for now,

the energy transition yields to a more urgent problem. ma, news that the u. s. and europe discussing banning in ports of russian crude oil has driven the cost of a barrel to 14 year highs. but more crucially for european nations like germany, natural gas prices are at record levels as the supply from russia seems ever less secure. now russia exported under net 98000000000 cubic meters of natural gas back in 2020. and as you can see here, more than a quarter of that went to germany, which is by far moscow's biggest e u customer. but even other member states like italy and the netherlands are much bigger importers of russian natural gas than for example, china. you can see here, which is for as for how important it is to their overall economies, you can see that russian natural gas made it more than half of germany's overall in ports in 2020. that is a key reason why europe would struggle to live without russian gas. it now

seems so long ago. russian president vladimir putin meeting with royal dutch shell, c. e o, in 2014. the 2 sides pledge to build on a 25 year relationship that would lead to the development of a liquefied natural gas project. i russia, jacqueline island, 8 years later, shell, another oil companies are turning their back on putin, after his war against ukraine. the i'm on vince, that the economy in the oil and gas industry, which is the backbone of the russian economy, is going to suffer because of those companies were bringing advanced, acknowledges a lot of cas know how ah, to russia and without their commitment to wrestle projects. i don't think that the rest and production of oil and gas can go ahead and continue. but germany is

still dependent on russian oil and gas. it relies on russia for 30 percent of its oil and half of its gas supply. germany could break its dependence, but no one in the energy sector believe the transition will be easy with us. maybe if russia stops delivering gas, we could get through the next winter without letting people freeze without our industrial production, shutting down and without blackouts. but with or without russian gas, the power grids still has a capacity to fail. oh, it was just local goals can energy experts argue the european union needs to expand its green energy sector in order to survive. but coal, atomic power will still have to play a role. well, let's discuss further yours reliance on russian energy in particular, russian natural gas. i asked leon is becky from research consultants. and he aspects whether countries like germany had

a problem on their hands. this is really a european problem rather than individual countries, specific problem. if germany would be struggling with a supply of natural gas, it would automatically pull supplies away from other parts of europe. so that ultimately, again, this becomes a european problem when it comes to answering the question whether we could do without rough, natural gas in the short term. if there was, for example, computed stops to, to russian, close to europe. the short answer is yes, but this would obviously entail significant incisions in today tonight where we'd be talking about measures that include industrial demand, destructions. for example, large, make sure that we can put adequate gas into storage for next winter. so we took him out, having to handle rising gas prices, rising energy prices for, for europeans. is that what we're talking about here? yes, precisely if i think in the short term again, if we're talking about

a complete sub to russian flows, you would obviously see gas prices skyrocketing even more than they have been now. so even today in the morning, gas prices grew by around 40 to 50 percent, purely on worries of adequate supply. so you'll see price of skyrocketing and this is where the market trying to reduce gas demand from other sectors of the economy, such as, for example, from industry in order to make sure that there's sufficient gas in the system. so that we can put that into storage. so if we are going to see a complete disruption to rush from flaws this will just further intensify, you will need to see significant demand reductions in order for the market to balance. and presumably, that would mean having to source natural gas or something similar to it from elsewhere. what, what are the options that europe has been? the options are not, are not many. you're obviously looking at n g supplies, but the, your do you, the global

n g market is already quite tied. and europe so far has not been very successful and trying to out price, particularly ne agent buyers off gas. so that you're looking at a, at a very tight market overall. i think the shorter term answer is if we need to bridge a general supply disruption from, from russia are going to be particularly focused on domestic supply. so we would need to be starting to ask questions with respect to groaning and, and whether we're going to increase production there in the short term. but also with respect to, for example, domestic european production of coal. and whether we're going to start qualified or us again. so given all of this complexity that comes with trying to work without russian natural gas, is it really realistic that the you would impose a ban on it? well, i think when a decision and from the way the market is as looking right now,

as i said, there is no real way to source an adequate supply of natural gas from other from other countries or from the global energy market. which means that the only way that the european market can actually balance is through demand destruction. so you would need to see policymakers intervening and domestic markets in order to force industrials to actually shut down the economic repercussions of this would obviously be quite significant. so this is a trade off that european policymakers just need to be aware of in terms of what it means for natural gas prices, and in terms of what it means for the aggregate economy in europe. ok, lina, speaking from energy aspects, thank you so much for bringing as your insights well is not just the flow of natural gas from russia to europe, that is proving itself to be problematic. moscow also has control over some european storage facilities for the communities around these sites. it's becoming

a source of unease. mayor hands, peter haskin, looks out his office window at one of the largest gas storage facilities in europe . it's operated by a gas prom subsidiary and yes'm. gam in northern germany, gas exports are a key source of income for the kremlin. and it's war deutsch desert didn't creak of with thousands of people are dying right now in this war. and that means in from russia and is stored in salt dome's deep under ground. what especially a noise the mayor is that the volunteer fire brigade is responsible for ensuring the security of the gas from plant that cost the town around $250000.00 euros a year. it's all on a fine ballgame, dusty there ought to be an agreement that the operators of the gas storage garage

costs. it would help pay for the work that the fire department does. we've performed an analysis and found out that about 70 percent of their costs are related to the facilities we fall and put, and c, r to caesar. on long dash day. the mayor has been negotiating with gas from german subsidiary, asked dora for years so far without success. an opaque network with ass, dora when gas gas, cade and other gas from own companies, operates the largest gas storage facilities in germany. it owns important pipelines and it trades in russian natural gas. lawmakers say this causes communities to lose out on tax revenue, gap astray. i know she's still in the past, these companies would suddenly change their name, and that would be a single cent of tax income left hobbs and thought was there's no way of contacting the people in charge as of the following. our experience with gas from here in this

region has not been good so far, gas from has been able to operate freely on the german market. even building its own pipelines like here in eastern germany. but now the ukraine more is forcing germans to re think many of them say the government must have more control the clover, tactful power fuel. the crisis shows we need much more transparency than we currently have. at the moment it's almost impossible to say who is actually involved with whom in which business and which gas is really flowing through which pipe, spacious goth mayor hands. peter haskin is hoping for more support from the german government, as the war rages in ukraine. people here worry about how much control the russian state has over their lives. that's all from the business team here in berlin from audi had over to our website either way dot com slash business. you can also fine as on the dw news youtube channel, and on facebook has d w. w. till next time ah,

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ah, this is, did every news line from rural land corridors of conflict? ukraine rejects russia's proposal for civilian escape routes leading to russia and bellows. gray says a people were killed fleeing the town of urban on a supposed that humanitarian port or president vladimir zalinski accuses russia of murdering civilians. also coming up as russia continues bombing,