Russia cuts gas deliveries through the Nord Stream by 40% | News

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The Russian company Gazprom announced on Tuesday that it will reduce by 40% the volume of gas it supplies to the rest of Europe through the Nord Stream gas pipeline due to the delay in repairs by the German company Siemens, which has joined the sanctions. against Russia.

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For its part, the German government assured that security of supply is guaranteed, after the announcement by the Russian gas giant.

“We are observing the situation and analyzing the facts. The security of supply is currently still guaranteed,” said a spokeswoman for the Ministry of Economy and Climate in a brief statement.

The price of gas in Europe soared more than 10% on Tuesday after the Russian state company Gazprom warned that it is forced to reduce the flow of gas through the Nord Stream gas pipeline.

Gazprom added that up to 100 million cubic meters of gas can now be supplied daily, instead of the planned 167 million.

At 11:46 GMT, the price of futures with July supply in the Dutch TTF market rose to 94.77 euros per megawatt hour or, which is the same, almost 1,000 dollars per thousand cubic meters, which represents a increase of more than 13% compared to the previous day.

“Due to the delayed return of equipment that pumps gas by Siemens after its repairs, the exhaustion of the useful life of the equipment and the identified technical failures of the motors (…) at the moment the Portóvaya compressor station (in the outskirts of St. Petersburg) can use only three installations that pump gas,” Gazprom said in a statement on its Telegram channel.

Previously on the CEGH REMIT platform, it was reported that the capacity available for pumping gas through the Nord Stream would be reduced from June 3 to June 17 due to regularly scheduled pipeline inspections.

At the same time, in the period from July 11 to 21, the planned annual work on the pipeline is already scheduled with a temporary closure of both Nord Stream lines, according to data from the operator Nord Stream AG.

Export gas pipeline from Russia to Europe “Nord Stream” with a total capacity of 55 billion cubic meters. of gas runs along the bottom of the Baltic Sea from Vyborg in Russia to Greifswald in Germany.

The operator is Nord Stream AG, in which 51% is owned by a Gazprom subsidiary, 15.5% each by German Wintershall Dea and E.ON, another 9% each by NV Nederlandse Gasunie of the Netherlands. Basses and Engie from France.

Gazprom stopped its gas deliveries to several European customers who refused to pay in rubles, as demanded by Russian President Vladimir Putin.

The Nord Stream 1 pipeline has been supplying Russian gas to Germany via the Baltic Sea since 2012.

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