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Russia reduces the volume of gas sent to Germany

Gazprom has reduced the maximum volume of Nord Stream 1 pipeline deliveries to Germany to 67 million cubic meters per day.

The measure will apply from Thursday morning and the company justified it by delays in repairing the equipment. Nord Stream 1 is the main route for Russian gas exports to the European Union and is typically capable of transporting 167 million cubic meters of gas per day.

Read also: Ukraine confirms agreement to take gas from Canada

The news of the reduction in shipping capacity has led to a further rise in gas prices in Europe. These are reaching quite high levels again, fuelling the energy crisis.

On Tuesday, Gazprom cut the pipeline’s transmission capacity by 40%, to a maximum of 100 million cubic meters of gas per day. It justified the measure by the delay in the return of the equipment, which was sent to the German firm Siemens for repairs. German Economy and Climate Protection Minister Robert Habeck suggested in an interview that the move by Gazprom was politically motivated.

Following the announcement of further cuts in transport capacity, Habeck said Russia’s move was an attempt to create uncertainty and raise gas prices. Germany’s energy regulator said it was assessing the possible consequences of the measure. However, it added that gas supplies in Germany remain secure.

Nord Stream 1 is important for Europe

Nord Stream 1 transports gas from Russia to Germany via the bottom of the Baltic Sea. The newly completed Nord Stream 2 pipeline runs parallel to the pipeline. However, Germany has blocked the commissioning of this project because of the Russian invasion.

Last year, the EU imported 155 billion cubic meters of natural gas from Russia. Over 59 billion cubic meters of gas were imported through the Nord Stream 1 pipeline alone.

Bruno is an Investment enthusiast with several years of experience in the industry. He enjoys following the latest news and technology trends...

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