Russia steps up gas spat with another cut to Nord Stream flows

by | Jul 25, 2022 | World

Gazprom PJSC will cut flows via the link to Germany to about 20 percent of its capacity from 7am Moscow time on Wednesday, the Russian gas giant said in a statement.Russia is further curbing natural gas flows on the Nord Stream pipeline  just days after bringing the link back from maintenance, escalating European concerns over a supply crunch this winter.
Gazprom PJSC will cut flows via the link to Germany to about 20% of its capacity from 7 a.m. Moscow time on Wednesday, the Russian gas giant said in a statement. One more gas turbine, crucial for the supply, is due for maintenance and will be taken out of service, according to the company.
Gas had been flowing through the link at about 40% of capacity since it returned from 10 days of maintenance on July 21. That’s about the same level as before the works.
The move follows a warning from President Vladimir Putin last week — that Nord Stream flows could fall further if a spat over its equipment isn’t resolved. That’s another blow to Europe’s extremely tight energy markets, where gas prices continue to surge and governments are bracing for a crisis during the upcoming heating season.
European benchmark futures rose as much as 10% to 176 euros a megawatt-hour and were trading at 174.50 euros by 4:55 p.m. Amsterdam time.

A reduction in Nord Stream flows “was unfortu …

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