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As Europe urges energy savings, Russia cuts gas flows






A further escalation in the energy stand-off between Moscow and the European Union on Wednesday resulted in a lower delivery of gas to Europe for winter heating, which will be harder and costlier for the bloc.



Gazprom announced earlier this week that its Nord Stream 1 pipeline-the main route for Russian gas to Europe-has been cut to a mere fifth of its capacity due to the interruption of supplies.



On Tuesday, EU countries approved a weakened emergency plan to curb gas demand after striking compromise deals to limit cuts for some countries, hoping lower consumption will ease the impact in case Moscow stops supplies altogether.



If gas supplies from Russia are at 20-50 percent capacity, the plan could provide Europe with enough fuel for the winter. However, the Royal Bank of Canada warned against complacency in the market.



Gazprom deputy CEO Vitaly Markelov said the company has still not received a Siemens turbine used at Nord Stream 1’s Portovaya compressor station that has been undergoing servicing in Canada.



28 July 2022

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