Can Deutschland AG cope with the Russian gas shock?

Founded in 1763 by Frederick the Great, Königliche Porzellan-Manufaktur still uses traditional methods to make its high-end porcelain. As in the past, kpm vases and cups are blasted with heat in furnaces: first at 1,000°C, then at 1,400°C. Hardly the cutting edge of German manufacturing—but emblematic. kpm’s fortunes are, like those of German industry as a whole, tied to the availability of cheap natural gas. Its four ovens consume almost as much of the stuff in a year as 100 single-family homes.

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