BERLIN TO ALLOCATE 1.5 BILLION EUROS FOR EMERGENCY GAS RESERVES

BERLIN, JULY 7 /SRNA/ - The German government plans to spend 1.5 billion euros on emergency gas reserves, Reuters reported, citing an unnamed source.

According to the source, the reserves will serve to ensure supplies in extreme situations, such as sabotage of critical energy infrastructure or a major global gas shortage.

The plan is being prepared by the German Ministry of Economics, and the government is expected to approve it in mid-August.

The reserves will contain about 2.3 billion cubic meters of gas, which is about 10 percent of Germany's gas storage capacity.