Oil, gas and mining

Europe on edge as Nord Stream Russian gas link shuts down for maintenance



가스 대란에 러시아 제재 ‘흔들’…유럽, 최악의 겨울 대비

The natural gas pipeline… that carries… Russian gas… to Germany… has been closed… for SCHEDULED maintenance… BUT… Europe is bracing… for a POSSIBLE EXTENDED closure… amid… the standoff… between Kremlin and Europe… over the former’s invasion of Ukraine.
LEE SEUNG-JAE explains.
According to operator Nord Stream AG on Monday,… maintenance on Nord Stream 1,… the largest single pipeline carrying Russian gas to Germany has begun,… halting the flow of the resource for the next ten days.
On the same day,… Russia’s gas giant,… Gazprom notified Italy,… that it would be reducing the amount of gas supplied to the country,… from 32 million cubic meters of gas per day,… to 21 million.
The European continent which relies heavily on Russian gas,… is now on edge,… as it fears Russia could extend scheduled maintenance to restrict European gas supply further.
This means,… plans to fill gas storage facilities ahead of winter will be in disarray, while the situation could heighten a gas crisis that has prompted emergency measures from governments and painfully high bills for consumers.
The latest halt in Russian gas has also prompted some countries to brace for the worst,… and seek alternatives to ease reliance on Russia.

“Let’s prepare for a total cutoff of Russian gas – that remains the most likely scenario. This requires us to accelerate our energy independence, to accelerate filling up our stocks, to build a floating LNG plant in Le Havre quickly, and to make ourselves stop spending two or three years doing something that other nations do in six months.”

Despite the geopolitical situation in the region,… Russia dismissed claims they are using oil and gas to exert political pressure, saying the maintenance shutdown was a regular, scheduled event,… adding that no one was “inventing” the need for any repairs.
Russia has also cut off gas supplies to several European countries that didn’t comply with a request by Moscow for all energy payments to be made in rubles.
Since June,… Gazprom has cut gas flows through Nord Stream 1 to just 40 percent of the pipeline’s capacity,… but cited a delay in the return of equipment being serviced by Germany’s Siemens Energy.
Watchers say,… despite calls for less dependence on Russian gas,… a sudden cut in supply would mean dark days to come for many European countries,… leaving some to believe,… the worst is yet to come,… with the winter season,… mere months away.
Lee Seung-jae, Arirang News.

#Nord_Stream #Russian_gas #gas_supply

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2022-07-12, 10:00 (KST)

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