bonnet, a mythical demon, to share celebrations last for days and kick off preparations for de wally the festival of lights. and let's get you a reminder of the top story we're following for you. the european union has agreed to a new round of sanctions against russia. measures include an oil price cap aimed at hitting the kremlin to finance. it's all for this, our have more for you at the top of the hour and in between the business news. opec plus producers agree to slash oil output. i'm way bluecross or few st with many pollution. so now the climate change very hot, the stores. this is my plastic way from just one week. how much was going to really get we still have time to go. i'm going

with, we're all set to go beyond the obvious citizenship and we're all in as we take on the we're all about the stories that matter to you. whatever it takes, policemen follow with w. fire made d o . another blow to global energy supplies, the oil producing cartel opec plus is reducing output by $2000000.00 barrels a day, and a 1000000 as likely to hike energy prices further. and spain and germany plot a new pipeline through the parent is kind of guarantee york's energy security that

says database business on robots in berlin. welcome to the the opec oil producing countries. and the allies have agreed to slash the output over the coming months at a meeting in vienna, opec plus, which also includes russia, decided to reduce production by $2000000.00 barrels per day. move ames to support oil prices, which have fallen by 30 percent since june u. s president joe biden layer says he's disappointed by this decision. the decision which he's called short sighted. well, let's discuss this further with carol knox law who is ceo of crystal energy. thanks a lot for joining us on the, to the business. this decision biotech post is going to come as a blow to countries already struggling with their energy costs. isn't it? well, if you look at the number $2000000.00 a day, literally, that is definitely a market which has been struggling with high prices. but actually,

my good service understand is not going to be the actual $2000000.00 a day taking out the market because they can, it's a big loss. most of them have been producing below the i look at the quote and ok. so in reality, the $2000000.00 a day would translate into less than $1000000.00 a day off barrels taken out of the market. i'm not trying to down today the significance of that. i'm always not as bad as $2000000.00 a day. we're seeing over the upward pressure on oil prices, which is already bad use to energy consumers around the word. yes, americans are particular going to say it of the petro pumps on then, president biden is set to is disappointed by this decision is called it short sighted is the, or is going to have to act in some way in response to this when just to people is speaking, the u. s. is not happy with, so is a decision. i don't want to say the u. s, because u. s. is also the world's largest oil producer. so in that respect,

height with prices can also benefit the u. s. to an extent, but typically speaking because we are heading towards mid term elections and in months time that is not good news because high prices affect the popularity of the current president and his administration. how that, how the u. s. were yet i'm not quite sure how it can they react in the short term. but one of the possible scenarios is that they will reactivate the no big bill which was discussed earlier this year and which would qualify as a kind of day. and there would be consequences, legal consequences. but beyond that, there will be mainly political developments, which are unlikely to guess at this stage, theory packed classes. the rusher is out the table along with opec, sir. is there anything we should read into russia's involvement here because it does tend to gain strategically, doesn't take from this decision. russia is an important player,

was an object lesson is actually even more important for the longevity and the influence of the producer school. and it is the 2nd largest producer after saudi arabia. so definitely it has an important influence on the group, which is also showing clear support to russia. and by putting up what pressure on price says that my, it says, is in move to support russian oil production and russian economy. just in time when western powers are close to put in price cap on russian oil exports ok. co nutler from crystal energy. thank you so much taking the time to talk to us on to, to be this. thank you. now germany and spain have agreed on the need for a new gas pipeline across the pyrenees. in western europe. just let all of shots has been visiting the spanish port aconia, where he discussed getting liquefied natural gas from spain to the rest of the you with prime minister petro sanchez, spain has 6 main. ellen g import terminals,

ships carrying the liquid dock at these points where it's converted to gas to be transported by pipelines. but while there are plenty of pores clearly just too low capacity pipelines currently connect spain with neighboring france and therefore germany, that's why all of shots and peter sanchez say, a 3rd pipeline called mid cat needs to be completed by 2025. so let's cross to our correspondence following the german delegation in akron, you're nina has a nina. it's good to have you. on the program, germany clearly sees spain as pretty important to its future energy security, doesn't it? it does indeed. in fact, germany sees almost any body as a very important part in that puzzle when it's trying to diversify its energy imports because of course, imports from russia are no longer there and are no longer wanted either. so of

course, spain plays an important role because you've mentioned it, it does get a lot of gas, but there is no connection into the european continent yet. now there is this pipeline project that was agreed upon a couple of years ago, but it was never finished because at the time people looked at the money and thought that it was not worth all the investment that would have had to go into it . but of course, the times have changed, and now germany is in favor of finishing this pipeline that would make gas imports from countries like algeria possible into your, of, in a much quicker way. so germany's olaf shows and as spain's pedro sanchez have argued in favor of finishing this pipeline. but of course, there is a bit of opposition still to put it mildly from france because of course there is a very, as strong nuclear power lobby in france. yandy to how has that gone down with france and other parts of the you? because germany's been the oldest was oversee yukon as over energy just recently.

it has indeed, and the french president has so far, always argued also against that's a fact that some people have put forward. those who are in favor of finishing this pipeline by saying it is not proven that such a pipeline pipeline would ultimately also be capable of transporting green hydrogen because that is ultimately also the goal. they don't want to stick with natural gas . they do want the transition towards renewable energy and green. hydrogen is a buzzword in europe, of course. and spain says it does want to become the powerhouse for green hydrogen by 2030, says pedro sanchez. he wants to spain to essentially provide 10 percent of green hydrogen within europe. and as france is a very reluctant when it comes to finishing the pipeline. but a man when mike on the french president did go to berlin earlier this week, and today in the press conference, all i've shorts. when asked about potential french opposition to the project will

have shorts. his answer was quite interesting because he said, we do want to build this project with france together with france, and we do have the impression that that is not ruled out. so that does seem to be a bit of movement here. ok, any not aconia in spain for us. thank you very much. a germany is also hoping that renewable energy is, can help me to its future energy needs. but to do that, it also needs to be able to store the energy for when the sun is shining and the wind is blowing. they call it bigger factory. this is where the startup test volt is based in the heart of germany. the company produces battery storage units. a single module stores 10 kilowatt hours, which can power the needs of a 4 person household per day. the modules can be connected to one another and industrial companies are keen on acquiring them. them for work isn't my wake of the ukraine. more companies want a sustainable 2nd world, affordable energy supply,

and that's why customers call us and say, i need electricity stores. i want to freeze my electricity cost. it's the only way to become independent of rising electricity prices. that is what the town of course climmer in eastern germany wanted with its new solar farm. there price $0.06 per kilowatt hour of solar power plus $0.10 for storing it. that's half of what it costs from the power grid when even if the weather is good, and although solar plants produce extra electricity that we can store that facility . but if the weather is overcast or in the evening, we can take it out of storage. the community could be a model for germany, but there are still only a few giant storage facilities installed in the country. that's because large scale expansion has its challenges. athena was a big missing building block is the raw material. batteries are often built using rare minerals right now we have to manage to use cheaper easily available raw

materials, like sodium was new, battery cell generations. and then a large scale nationwide expansion is also possible. so that will really manage to supply europe or parts of europe, 247, and a truly self sufficient. green, affordable, safe way for video for, for them to produce as much as possible. despite the global computer chip storage, the company has developed a new storage model given what's next theme failure, we had to respond extremely quickly and we're able to reduce the amount of chips we need is our products by 80 percent of category. when bones on board that has helped us to grow. so we growing 100 percent this year over last year, you know from clayton foil. i'm not woodson. today the company already has orders worth more than 100000000 euros. and just recently, investors injected further capital into the start of the money will be used to

build another giga factory soon. but of all those batteries aren't sufficient to supply europe's energy. the continents cowers might be able to step in the flatulent creatures, produce their own special brand of gas, and it can be used as a fuel the $600.00 dairy cows on this farm, and get chains or provide more than just milk. they also produce cheap fuel lads in that's it got all the over the last few years. we've started a project that is allowing us to produce renewable energy and to have an actual circular economy. colorado. this machine extracts bio methane from cow waste. the processed by a methane is then pumped to a filling station in front of the farm that annoy produce bio sustainable fuel from our livestock waste water. the idea that we as an agricultural company can input it into the transport system is extremely gratifying on a personal level, not may i develop s denali. here customers pay $1.00 euro, $39.00, a key low up to

a half cheaper than most other gas in economically uncertain times. the station provides an advantage for the family business and local drivers. and a reminder that all business story with following for you this hour echo producing countries on the allies of agreed to slash that output by $2000000.00 barrels per day to move aimed to support oil prices, which form by 30 percent since june. the silverman, the business team here in berlin from all kinds of data we dot com slash business till next time. 0, one continent. 700000000 people with their own person stories. europe. mm. week steamers every day life with what europeans feared,

and what they hope for focus on is next d, w. and to the conflict zone. no sooner had president putin, i'm a for regions in ukraine. these troops were forced to flee from a key city in one of them for humiliation wasn't lost on russian commanders. i guess this week from keith is you who was your craft deputy head of the president to administration. as you, craig, back to mr. booting into a corner where he might use his nuclear arsenal. conflict zone. in 60 minutes on a w o. in a ended glistening place of longing, the mediterranean sea,

it's waters connect people of many cultures. seen of almost rock and jaffar abdul karim drift along with exploring modern lifestyles and mediterranean where has history left its traces leading regal, hearing their dreams. ready to meet this week on d. w. ah . hello, and a warm welcome to focus on europe. it's good to have you with us. we are more than half a year to rush us war on ukraine now for russian troops. it's.