russia opens a new gas bill as part of its pivots. a china cabinet really replace the energy trade volumes it enjoyed with europe. also on our shows as the destruction and ukraine is growing and the price tag reconstruction rising to speak with that of europe's reconstruction bank. about the plans rebuild. welcome to the show. a small milestone in germany today as the 1st flows of liquefied natural gas of entered the country's gas network. it's happening via via a new ellen g terminal. the country's 1st and courtesy of this ship, the hug esperanza lovely name. it's all happening here and bill holmes hoffen on germany's north coat north sea coast. that's where the ship, the central part of the terminal will convert the delivered l. n g, back to its gaseous state. and the floating terminal in films haven is connected to the natural gas network in germany via 26 kilometer pipeline. the pipeline cost around $150000000.00 euros and can deliver around 6 percent of germany's natural

gas supply needed in a year. right now it's just in test phase full operation is expected in january with learn more about this with me. how's standard? he's professor for energy storage and energy systems at the technical university o. t h. regensburg be held. great to have you on the show. first flows, we've had multiple milestones with this terminal. the fact was completed. now we have a ship that's there and now we have the 1st flows going in. give us some sense of how important this actually is for where we are in this crisis. it's definitely very meaningful to germany as we really struggle to get more independent from russian energy imports. so that's definitely milestone and, and i'm really happy that it happened that fast, but yeah, that's bridging us for some years, but it's not the final solution. definitely. it also, um there's also going to be issues getting gas on the open markets. i imagine this doesn't necessarily solve that, does it the price of gas, as we've seen,

can be very erratic. yeah it's, that's definitely the case because the competition is quite high on gas and gas supply. and so this gives us an opportunity to have more access to liquids, natural gas markets, which we didn't have so far, because we were so reluctant on this toxic, cheap energy from russia, but it's really the so, so from the environment environmental point of view, it's not the best case, but um, in terms of economy, of course we need this independence supplies security. that's why it's an important step for gemini. you mention the environmental aspect. natural gas is always been part of the plan to move to renewables. it was supposed to be a bridging fuel, does the construction of all of these elegy terminals there multiple, they're going to be constructed summer, almost done right now. does this make that transition more difficult because it creates this kind of obviously a terminal for gas, or does it make it easier because some of the infrastructure can be used for hydrogen from what i understand?

well, we wouldn't have faced out al serra fossil energy from, from russia that fast, without this war. ah, so definitely it was in the plan to face out, but not that fast. so it's just substituting here and fossil energy. but of course we have to have the frameworks like the emission trading system in europe, which has just been extended to heating systems and also transport. ah, and, and it's, it's a bridge, but i am not in favor of making contracts with katara starting in 26 for last and for 15 years. this is really quite contrary to our climate goals. but you're right, definitely. we can use some of that infrastructure to import renewable energy. so in form of ammonia, well, we have 150 haber is worldwide many ships me, but it's not feeding for green hydrogen. it would fit for green. ellen g, you can do green, l a n g by a power to guess, and that's competed if and technically and economically feasible compared to ellen

. she imports from kata. so we should definitely look and create new energy partnerships which have our values, which really can import than green energy in whatever form ah, but many molecules sell and it, and she and she. so it's, it's definitely doable and be there should be the full hour break that i'm so i won't break, i want to ask you before we run out of time, the approval process of the construction of this. it lasted only 10 months. that's lightspeed by diamond regulatory standards. it's often been said that it be nice to have this for renewable approvals for winds. turbines, for solar cells. does the set a precedent briefly if you can? no, it doesn't. a we've, we have this in vaccinations that we saw many light speed, but not in energy transition. we definitely need this for climate action to accelerate wind and solar and so on. and if you compared to corona, ah, the money we spent were co, nora corona would definitely last a to have

a complete transition towards climate neutrality worldwide. so that's the good news does be feasible and it's doable. but we need acceleration from the permission side . definitely are actually for wind, josh donna, professor at the technical university o t. h. regensburg thank you so much. thank you. russia has also been looking for alternatives since the beginning of the war to that in president vladimir putin has inaugurated a new natural gas field in eastern siberia that will serve exports to china. but there to a significant amount of infrastructure has yet to be constructed. moscow wants to boost guess sales to china. gas income is critical to the kremlin, to bankroll putin's war against ukraine. but until now, russia has had very little infrastructure to pump gas eastwood's. now putin has announced the development of what he said would become the largest gas field in easton, siberia, plus the infrastructure to export the gas. really that the implementation of

projects such as the co victor field, the power of siberia to the far eastern route will make it possible to increase gas supplies to the east to 48000000000 cubic meters 520-2588 1000000000 by 2030 stood but that still not even close to what the west was buying from russia before the wash particular put in claims. the new guests field in the east coast region has recoverable reserves of 1.8 trillion cubic meters. that would make it around the 15th biggest in the world. the head of gas prom alexa, mila says that the co victor field is ready for operation and would soon begin pumping gas eastwood's. russia is desperate to get the project on line as quickly as possible to replenish dwindling walk offers. but the projected timeline to build the infrastructure shows that regardless of the outcome of the war, the kremlin expects, russia will be cut off from western markets for

a long time to come. earlier this week, the international monetary fund approved a special monitoring program for ukraine to help it attract more international donors. the country faces a funding gap of up to 57000000000 euros just in 2023. it's racing to fixed energy infrastructure like power grids and generators that happened targeted in recent months. then there's the longer term challenge of reconstruction. earlier this year, the government and keith put the costs to rebuild at a mass of $750000000000.00. let's talk a bit more about this with my tail patrone with the european bank for reconstruction and development. he's managing director for eastern europe and the call cases. i'd say thank you for joining us. a quarter of a trillion dollars is a hefty economist, especially when the ukraine is going door to door, begging just 410-2030 1000000000 euros to get through the next year. how do you size up the prospects for rebuilding ukraine with this kind of mass of some

it is so that the new guy on the conference be heading lie. you know, these are presented a cobra plan for $750000000000.00. that is also true that for instance, there were bank later on in the size that recovery it up to $350000000000.00. to be very frank, i would rather focus on what is needed in the country and sustain the real economy for the next 12 to 18 months. and then we would see what actually is going to be the size of the recovery of the economy over the next 10 years. at the same time, you are a redevelopment of reconstruction bank. one of your main goals is to foster market oriented. economy is a short term issue. i'm sorry, i missed that. that was saying that that is a short time issue. is

a 12 months issue. and, and this is where i think the internet and with the and to focus on and what success are, they have a success, are they having with this right now we move on for concert reconstruction. we move over, we look at that funding gap. we saw that there was a dollar conference in france recently. is that money coming? are we seeing the help that you create needs right now? what i think the international community is actually mobilizing, mobilizing quite fast, they can speak about what we do at a, b, b we, we don't do a budget and we are not the top of the budget financing, but we are top to support the real economy in particular, the private sector and, and the way we approach the along 5 priority lies, which is support for supporting energy security, supporting by the infrastructure supporting for security and in general, the private sector resilience and typically in crane, we pass that on $1000000000.00 euro per year. or the outset of the

crisis, we pledge to support crane with 3000000000 euros over the next 2 years. has been submitted to us in 2023. and we in 2022. we are the 1500000000 euros of investments along those 510 priorities and in particular on the on energy security, which is as we know is of extreme relevance at the moment being energy production is being shared by the russian federation that ukraine is seeing its industrial base pretty much destroyed right now when it comes out of this war. at some point, it's going to have to have an economy that can function that can pay off some of its debt. how challenging will that be for nations will be very challenging because because and we, we need the support of the private sector to do that. the, the, whatever, the size of the recovery,

the long term that can be put on the shoulders of all for international donors, only the private sector will need ok, freight will have to end it there. i think we just lost our connection with mr. patwani again, that was my tail patrone with the european bank for reconstruction and development . apologize for the technical issues there. we'll move on now to some of the other global business stories making ad lance. germany is building is burning coal at the fastest pacing at least 6 years. that's according to a new blurb. bloomberg report levels of pollution from germany's power production are now comparable to india. south africa. the country has turned to other fossil fuels and a bit to replace russian gas f t x founder sam, bank them free to ride in the u. s. wednesday. after being extradited from bahamas . u. s. department of justice filed charges against the 30 year old and accused him

of being behind one of the biggest financial frauds in american history by misappropriating billions of dollars. bakeman fried, also faces civil charges. that's it for me and the business he team here in berlin . you can find out more online check us out at d. w dot com slash business. watch. with

awe writ daniels. i'm signed. we'll do anything to prevent his children from going hungry. but in britain that's not easy at the moment. the country that's actually who distributions helps the poorest, but the number of people in need is exceeding capacity. when will the government count focus on europe in 30 minutes on d w. oh. not just another day. so much is happening all at once.

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