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BERLIN, Nov. 26 (AP) — Germany and France have pledged mutual support to prevent a potential energy crisis after Russian supplies dry up during the Ukraine war.
Germany will supply France with electricity and get much-needed gas in return as part of a joint agreement signed by German Chancellor Olaf Schulz and French Prime Minister Elisabeth Born on Friday.
“Friends help each other in times of need,” Schulz said after the signing ceremony in Berlin.
Byrne echoed the sentiment, saying the friendship between the two European heavyweights is vital. “It has proven that it can withstand the test and meet many challenges,” she said.
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Before Russia launched a war in Ukraine nine months ago, Germany was heavily dependent on Russian gas supplies. Since then, Germany has been scrambling to find other sources, including increased imports of liquefied natural gas.
Meanwhile, France is struggling to meet its electricity needs due to repairs at several of the country’s nuclear power plants. There are fears that a sharp rise in French electricity demand this winter, combined with falling output in Germany and limited transmission capacity in Europe, could put pressure on the continent’s grid.
In response, France said it would supply Germany with up to 100 GWh of gas per day. Meanwhile, Germany will “maximize interconnection capacity” for electricity exports.
Under the agreement, Berlin will also allow “all available spare plants to re-enter the market and delay the retirement of remaining nuclear plants until mid-April 2023, in order to even provide France with additional electricity trading volumes”. (AP)
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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