also on our show nuclear energy is seeing a revival as country search for reliable, clean energy. we'll look at the plans being made by asian countries. and we'll visit singapore where a shortage of live chickens is proving headache for local cooks. hello, welcome to the show. i'm seeing busy in berlin. the german cabinet has agreed to a plan to bail out major utilities exposed to falling russian imports and higher spot prices. saying it wants to avoid a domino effect of network failures of the new plan which needs to go before parliament, allows berlin to provide credit. and by so called a silent stakes, ineffective companies. it's modeled after government rescue of tons of during the pandemic. a separate part of the bill, which berlin says would only be used in a worst case scenario. would even allow utilities to pass along higher gas costs to customers behind the new new legislation is the precarious case of

unit per. that's germany's largest gas supplier. it's on the brink of insolvency. currently, the group is losing an estimated $900000000.00 euros a month is forced to buy gas at higher rates, given current prices and lower flows. but here's the problem. it's still required to sell the gas cheaply because of its long term contracts with local gas networks . well, if you are per falls units, pl utilities supplied by the company would no longer receive gas. that would mean that millions of customers could face a cold winter. in companies might be forced to ration gas or even slow down their own production. and that's why you know, per is now hoping for that help from the state to the tune of more than $9000000000.00 euros those small some they're right for more or less. let's go to leon is vicky. he's a natural gas analyst with energy aspects. leon, good. have you on the show is always how critical is this situation for utilities is uniform alone out there or is it going to be joined by others? i mean,

it really depends on each individual's utilities exposure to russian gas volumes because that's ultimately the shortfall that we are seeing in the european balance and for utilities that those missing volumes need to be replaced on the spot market . so for a company that has considerable contractual supplies with gas problem, you're looking at around potentially $21000000000.00 euros on an annual, on an annualized basis. additional costs, if they have to source on 60 percent of the contractual supply on spot market and spot mark has it been pretty turbulent lately? we saw massive price hikes yesterday, or that the, the cost was rising. where are those prices now? are they likely to calm down? have they calm down? what are we seeing right now? what can we expect? so we have seen particularly today prices fall slightly because the norwegian government stepped in with respect to the strikes that could have adversity effect norwegian supplies into the european continent. but we're still looking at a t t f for on 155 years, a megawatt. hour and when it comes to the overall supply situation,

the continued supply and risks that we are seeing for european gas markets, namely from russia. but also when you look at the potential weather related risks that could be to decrease and g imports into europe over the course of winter, those prices are not looking to come down any time. so does that mean we have a better understanding of just how severe a sudden turn off a russian gas would be? we've been talking about this for a while. do we have a better concept of how it might look? i think it's still a, it's a situation which is unprecedented because most of the rationing plans that european governments have drawn up are essentially dealing with a time limited shortfall in russian to live resort. for example, 2 weeks of interconnect are actually a technical. all we're not looking at is a potentially prolonged suspension and hauled of rush into the european market over the next couple of years. and this is something that european governments are grappling with to actually adjust all of their rationing accordingly. and to try and estimate what exactly the economic out would be of such

a scenario. the german trying to replace a lot of that russian gas with liquefied natural gas or l a g that has to be shipped in. we've heard some criticism recently by a german association of shipping companies saying that the ships are there, frankly, to bring in all that ellen g. are we seeing that as well in the markets? i think it's, it's not, not even so much a question of just the, the actual ships being there. it's more of a question of where you are going to get the incremental energy supplies needed for europe. if it were come, for example, to a full flows. we already seeing that europe is setting globally high prices for natural gas. it is already displaced a lot of the price sensitive elements of the global gas balance. for example, cars, pakistan or bangladesh not to be able to afford spot cards of energy. but that has already been going on for the last couple of months. so it's really a question, how much more demand high prices in europe can actually free up in terms of the

global energy balance. and the answer to that is probably not much. or i guess analyst leona speak you there. thank you very much. thank you. let's go now to some of the other global business stories making headlines. german industrial orders rose by a 10th of a percent in may beating analysts expectations of a sharp downturn. despite the good news, the economy ministry still warned of strong head winds in the near future due to the ongoing war in ukraine. and that threat of disruption in russian gas deliveries, scandinavian airline s a s filed for bankruptcy proceedings in the united states. as part of restructuring plants. the airline is currently embroiled in a strike by pilots and mechanics. the airline cancelled well over half its flights on wednesday, even many passengers stranded in airports. the norwegian government has intervened in a strike by offshore oil and gas workers. we just heard that by liam,

by imposing a settlement with energy companies. and the decision came and concerns that the strike could up in the countries gas and oil output. the u that would worsen in europe's ongoing energy crisis. was south korea has announced that it plans to increase the portion of nuclear power in its mix electricity mix rather from 27 to 30 percent by 2030 the countries recently and saw president jones look you all made expanding nuclear power. a key pledge of his campaign going to boost investment and revive south korea status as a key export of safe reactors. interest and nuclear energy is growing across asia. in particular, amongst many southeast asian nations were demand for electricity is set to triple by 2050 countries like indonesia, vietnam and the philippines are already signaling interest in developing nuclear power. populations are growing and they're aiming to industrialize their economies . let's bring in our type a correspondence. so dong hon. so good to see you. why is nuclear energy

increasingly attractive to southeast asia? currently, south east asian countries do not have active nuclear reactors. but the situation may change since the end of may, indonesia, vietnam, and the philippines have expressed their desire to have nuclear power to meet the growing energy demand. and get rid of the depends on fossil energy. se asia imports 40 percent of its energy and currently released on the middle east for oil and gas with australia as the main source of coal imports. se asia energy, 80 percent fossil energy, the remaining a renewable energy sources are mainly hydro power. in this context, atomic energy becomes very attractive, or i'd so still arg colby's power, but a lot of aspirations. where are the biggest movements? where is the most progress right now when it comes to nuclear? in southeast asia, indonesia, the world's 4th most populous country, has launched a new plan in early june to have its 1st nuclear power plant. by 2045,

it attends to set up a special agency to be responsible for the development and operation of nuclear power plants and in vietnam in late may it's minister of industry and commerce told parliament that the country's development of nuclear energy was an inevitable trent and there were players to build to nuclear power plants by russia, state atomic energy corporation and japan's atomic power generation suspended vietnam. and to be carbon neutral by 2050. and thus needs a stable source of energy. so the authorities might restore the project any time soon. and so china is one of the world's primary investors in nuclear, in recent years. what does that mean for its influence? we're talking about se asia in these plans to shift more towards nuclear energy in the belt and rolled in the shade of china, or se asia talk about nuclear power co operation. however, the 2 sides have not yet nate breakthrough progress as nuclear power development in

southeast asia is still at an early stage. china's plan to help build nuclear power plants in southeast asia, phase this many uncertainties, political risks and fears, international competition, and other serious challenges. china is still working on setting long term strategic goals for nuclear power market development in southeast asia and properly handling relations with other nuclear power. exporting countries ready to be corresponded. so on hon in taipei. thank you or broken down supply chains or putting some of the fundamental assumptions of globalization under scrutiny. as countries hold back, exports to protect themselves from growing scarcity on the markets. other nations are in turn, forced to scramble for commodities that they've come to take for granted. one example is singapore. this dish is not just usually popular, but actually quite simple. singapore is highland nice chicken rice. what's more

complex is why vendors like one young tie are about to stop selling. the key supplier of life, chicken, neighboring malaysia, has suddenly suspended exports. this month. singapore government is urging consumers to switch to frozen birds importers from brazil and the u. s. romantic and i think for fire, you know, many people try and i think it's not good to see because that is, is different and not he, he has been in his life. auto diaz is. they froze again, not, not visible. the birds on this farm just north of the capitol kuala lumpur, were actually raised for singapore. malaysia typically exports up to $3600000.00 chicken a month since the russian invasion of ukraine, a major exporter of key components for chicken feet. the farmers saw grain prices doubled out. what fell and chicken prices went up to until the government stepped in with a ban and shot from lady ag alman melita, able to

a bottle supply. the market market are look a market how and what in long term we lost the thing, double market. think for share their government and wi fi. another thought for somebody in pike highland i, indonesia to, to continue the pipeline to them. and that is exactly what singapore is doing. the port of singapore is the 2nd largest port in the world. but economic growth is slowing down. it is expected to grow only 3.5 percent this year, down from 7.6 last year. and being often plus dependent certain sectors leads you vulnerable. the question is, how do you solve that? and so singapore, i would say, has sad in order for us to solve our openness and vulnerability. we need to be even more open. we need to have more trading partners. singapore also wants to reduce its own dependencies by 2030, the small island intends to produce 30 percent of its food locally. currently, the country still has to import over 90 percent of its food. however,

there is little land for agricultural cultivation. that is why investments are being made in vertical farming. crops are grown and harvested inside buildings and with artificial intelligence. if a shrimp can be raced here is a reminder of our top business story. germany is laying the groundwork for state bailouts of political utilities. the governing coalition in berlin are proving plans to help prop up uniform. that's the country's largest buyer, russian gas. and that's it for me. in the dw business team find out more aligned to covey dot com slash business watching ah, with

a valid tylen time, is that a crisis? bread and gasoline? high prices for fuel and staple food, or a button on the world's population, hunger and poverty threatened to disrupt society. and how can we stop this chaos and what options do politicians and business leaders have made in germany in 30 minutes on d w o.