Current supply situation
The start of gas deliveries through Nord Stream 1 is leading to a slight easing on the markets. Continue reading
Since gas deliveries from Russia resumed with reduced volumes through Nord Stream 1 on 21 July 2022, there has been a slight easing on the markets. However, the danger of a supply bottleneck in one of the coming winters is by no means averted, even if it is unlikely that Stage 3 of the Federal Government’s Emergency Gas Plan will be declared, at least in the next few days.
The question remains: what is the impact of a possible shortage of resources? What consequences must we expect? How can we prepare for these?
While we need virtually no natural gas for iron casting at our site in Sörup, we will be dependent on natural gas for the centrifugal casting of stainless steel and especially for the subsequent heat treatment at our site in Radevormwald, at least over the next few years. Even though we are supplied with Norwegian L-gas in Radevormwald, the risk of a reduction in gas supply in the event of reduced quantities of H-gas from Russia cannot be ruled out here either.
Currently, the gas supply in Germany continues to be stable and thus the supply to our companies is guaranteed. Nevertheless, we are working intensively on precautionary measures with which we can best counteract a possible bottleneck.
The measures we have been taking for years to move towards climate neutrality are becoming even more important in light of current developments. We are currently able to reach a major milestone with the installation of our PV system in Radevormwald, which is about to be put into operation.
In addition, we are taking further precautionary measures to reduce our gas consumption by converting our machinery. Specially formed project teams are also conducting a series of different experiments that deal with the secondary use of residual heat and possible uses of alternative materials.
Through measures that have already been introduced and those that are still being adopted, we will at least significantly reduce our gas consumption and considerably increase our efficiency in use. However, a complete substitution will only be technically feasible in a few years’ time. Planning ahead is not always easy in the current situation. However, we are very confident that thanks to our early precautions and preparations, we can continue to offer our customers the highest possible security of supply with our high-quality components.