A closer look at the project. Our mission and the like the flight for market dominance. Get us to the head with d w business beyond a bu a. Another blow to Global Energy supplies, the Oil Producing cartel opec plus is reducing output by 2000000. 00 barrels a day. And a move is likely to hike Energy Prices further. And spain and germany plus a new pipeline through the parent ease cannot guarantee your energy security. Hey, state of your business on robots in berlin. Welcome to the program, the opec Oil Producing countries and the allies have agreed to slash that 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 says hes disappointed by the decision. The decision which hes called short sighted. Well, lets discuss this further with carol knox. Her is seo of crystal energy. Thanks a lot for joining us on t. V. Business. This decision bio fact, this is going to come as a blow to countries already struggling with their energy costs, isnt 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 market observers understand its not going to be the actual 2000000. 00 a day taking out the market because its a big loss. Most of them have been good using the low, the code to do that. So in reality, the 2000000. 00 a day would translate into less than 1000000. 00 a day. All barrels taken out of the market. Im not trying to downplay the significance of that. Im always not as bad as 2001000 davis were seeing or the upward pressure on oil prices, which is already been used to Energy Consumers around the word. Yes, americans are particular going to say it of the petro pumps on then president biden. The set that is disappointed by this decision is called it short sighted is the you is going to have to act in some way in response to this. Well, just if you go, if youre speaking the u. S. Is not happy with a decision. I dont want to say the u. S. Because you as its also the Worlds Largest oil producer. So in that respect high when prices can also benefit the u. S. To an extent, but, 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 the u. S. Were yet im not quite sure how it can they react in the short term. But one of the possible scenarios is that they will reactivate the not that bill which was usually discussed earlier this year and which would qualify as a kind of dead. And there would be consequences, legal consequences. But beyond that, there would be mainly political developments, which are unlikely to guess at this stage. Thing with apec classes that russia is out the table along with opec sir. Is there anything that we should read into russias involvement here . Because it was done to gain strategically, it doesnt take from this decision. Russia is an important player, was an unpleasant, 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 with pressure on prices that my it says is in move to support Russian Oil Production and russian economy. Just in time when western powers are considering to put in price cap on Russian Oil Exports ok. Car nutler from crystal energy. Thank you so much. Taking the time to talk to us on to to be a bit. 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 Sports of 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 its converted to gas to be transported by pipelines. But mother are plenty of pores clearly just too low capacity pipelines currently connect spain with neighboring france and therefore germany. Thats why all of shots and Peter Sanchez say, a 3rd pipeline called mid cat needs to be completed by 2025. So lets cross to our correspondence following the german delegation in akron, youre nina has a nina. Its good to have you on the program. Germany clearly sees spain as pretty important to its future energy security, doesnt it . It does indeed. In fact, germany sees almost any body as a very important part in that puzzle when its trying to diversify its energy imports. Because of course, inputs from russia are no longer there and are no longer wanted either. So of course, spain plays an Important Role because youve 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 a countries like algeria possible into europe in a much quicker way. So germanys olaf shows and as Spains 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 eucharist, germany, but it also was oversee upon as over energy just recently. It has indeed, and the french president has so far, always argued also against thats 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 dont 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 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 ive 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 there does seem to be a bit of movement here. Okay, now that aconia in spain for us, thank you very much. That germany is also hoping that Renewable Energy is, can help make 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 doesnt blow they call it the giga 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 by day. The modules can be connected to one another and Industrial Companies are keen on acquiring them. Them to work as a wake of the ukraine war. Companies want a sustainable sicaro war and Affordable Energy supply. And thats why customers call us and say, i need electricity stores. I want to freeze my electricity cost. Its the only way to become independent of rising electricity prices. That is what the town of course creamer 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. Thats half of what it costs from the power grid. When even should the weathers good. And although solar plants produce extra electricity that we can store at 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. Thats 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, with 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, 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 whats next steam failure, we had to respond extremely quickly and were able to reduce the amount of chips we need is our products by 80 percent of kathy rule. We bones on board that has helped us to grow away growing 100 percent this year over last year. You known for polite some foil, im not woodson. Today the Company Already has or does worth more than 100000000 euros. And just recently, investors injected further capital into the start up. The money will be used to build another giga factory soon. And all those batteries are sufficient to supply europes energy. The continents cows 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 pick chains or provide more than just milk. They also produce cheap fuel lead, then dietetic, i thought the over the last few years, weve started a project that is allowing us to produce Renewable Energy and to have an actual circular economy allotted. 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. D i. D o lee as an Agricultural Company can input it into the transport system is extremely gratifying on a personal level. Not may i develop arseniy here. Customers pay one year. Oh, 3rd, 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, the top business story with following for you this hour. If i co producing countries on that allies have agreed to slash that output by 2000000. 00 Barrels Per Day to move aims to support oil prices, which form by 30 percent since june muscle for me and the Business Team here in berlin from all go to the d to we dot com slash business till next time i get into the conflict zone. No sooner had president putin, amex, for regions in ukraine. When these troops were forced to flee from a key to key. And one of them for humiliation wasnt lost on russian commanders. I guess this week from care of you who are short cropped up to the head of the president to administration as you, craig back to the food into a corner where he might use his nuclear arsenal. Conflicts own neck trading on d. W. Name with drink and whatever. What into our muggy, coming out from human waste is causing a lot of problems around the world when it comes to identifying solutions. I. T icon bill gates is an unlikely pioneer. I want to talk to you today about toilet the great toilet battle. In 45 minutes on d, w o. In a ended glistening place of morning. The mediterranean sea. Its waters connect people over many cultures. Seen it almost rock and to far a dual career drift along with exploring modern lifestyles and ready to range where it has history left its traces, meeting people hearing their dreams editorially during this week on d w no sooner had president putin, amex, for regions in ukraine. Than these troops were forced to flee from a key city in one of them and russian tank defences were breached in another. The humiliation wasnt lost on russian commanders with the chechen warlord ramson k dearoff calling for moscow to use
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