Gas, Gazprom cuts supply to Nord Stream by 20%: prices soar –

Gas, Gazprom cuts supply to Nord Stream by 20%: prices soar -

Gazprom, a multinational company controlled by the Russian government of the Russian Federation, has declared its expertise in extracting and selling natural gas. A reduction in deliveries in Europe via the Nord Stream gas pipeline: We are talking 33 million cubic meters per day Starting at 7am in Moscow (so 6am Italian time) on Wednesday 27 July.


The company cited the need to shut down another turbine as the impetus for the cuts Nord Stream 1 pipeline to undergo maintenance. The announcement came from Gazprom’s official Telegram account: Production capacity of compressor station Portovaya will go to 33 million cubic meters on July 27 at 07:00. Hence, the gas flow will be around 20% of the capacity compared to the current 40%. The news also reached Germany, where a spokesman for the German Economy Ministry commented: We have taken note of the announcement. According to our information, there is no technical reason to justify the reduction in supply.

Gas prices soar

Following the announcement of supply cuts to Europe, European gas prices jumped to a record level. A 10.6% increase: it last traded at €177.3 per MWh in Amsterdam.. At the end of the session, European stock exchanges were also held back: Frankfurt turned lower and fell 0.6%, while Paris was flat and London gained 0.3%. On the other hand, Piazza Afari was little changed, where Ftse Mib continued to increase by 0.6%. After a ten-day interruption, gas has resumed flowing through Nord Stream 1, albeit at a much smaller volume – the current 40% – compared to the total capacity, because, according to the Moscow authorities, No return to June volume due to lack of Siemens turbine It was shipped to Canada for repairs.

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