With the Russian recognition of the "People's Republics" of Luhansk and Donetsk, the conflict between Russia and the West continues to escalate.

It can therefore also be assumed that energy prices will rise even more sharply than before.

The Munich economist Clemens Fuest had just warned of a price shock for oil and gas if Russia invaded Ukraine: "Even if gas supplies were not restricted, there would be a price shock - at least temporarily."

Jan Hauser

Editor in Business.

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Economics Minister Robert Habeck also expects gas prices to continue to rise because of the conflict in Ukraine.

"War drives up prices, fossil prices," he said in Düsseldorf.

Russia's President Vladimir Putin alone is responsible for this.

Rising gas prices can be expected at least in the short term after oil prices have already risen.

"If the future is more uncertain, it is to be feared that prices will go up." However, with gas this always depends heavily on the supply and the amount of liquid gas LNG has recently been expanded.

Habeck added that Germany is 55 percent dependent on Russian sources for gas consumption.

This is too dependent on one provider.

"They have to be overcome." The aim must be to get out of fossil fuels as quickly as possible, including natural gas.

The extent to which the higher prices reach local consumers also depends on how much natural gas is available and consumed in this country.

In Germany, the natural gas storage facilities are currently 31 percent full.

This is the status of February 20th according to the AGSI platform and very little for this time of the year.

In the previous year, the level at this time was similar at around 32 percent, but before that it was 80 percent, 58 percent and 37 percent.

Russia has recently emphasized that the state-owned Gazprom group is complying with its supply contracts.

However, it didn't deliver more than that.

According to AGSI, gas storage facilities in the European Union are 31 percent full.

This is also less than usual: in previous years it was 39 percent, 64 percent, 45 percent and 36 percent at this time.

Habeck wants more control

Habeck still sees no reason to worry.

"Security of supply is guaranteed for this winter," he said on Monday evening after a meeting with North Rhine-Westphalia's Economics Minister Andreas Pinkwart in Düsseldorf - and thus before the new developments in the conflict with Russia.

Nevertheless, the stores should be better filled than was the case this winter.

"The reservoirs must be full and we must have a way of controlling this filling of the reservoirs."

So far, Habeck has not implemented his plans.

A regulation must be developed that obliges the operators to keep the gas storage tanks full.

Then there would be clear rules for everyone and nobody could leave storage empty at the expense of others.

He prefers this path to the possibility of the state itself becoming active as a buyer.

Should there be fewer or no more deliveries from Russia in an escalation spiral, the reserves would be low.

However, consumption fluctuates and depends on several factors such as the weather.

Other states could also step in, such as liquefied natural gas (LNG) deliveries by ship from America, but are unlikely to take over all deliveries from Russia.

searched for alternatives

When asked about alternatives to Russian natural gas supplies, which cover 55 percent of Germany's natural gas needs, Habeck named liquefied natural gas and supplies from Norway and the Netherlands.

"And so we can safely ensure the supply of Germany," said the minister.

Russia and Europe are economically interdependent.

The West needs energy supplies such as natural gas, for which extensive payments go to the East.

Germany is particularly dependent on Russian natural gas, which is the main supplier.

Around half of the apartments in Germany are heated with natural gas.

Numerous industrial companies also rely on natural gas.

A failure of Russian natural gas deliveries would probably cause natural gas prices to rise and would initially affect industrial companies if their production was no longer worthwhile and they shut them down.