Gazprom is once again throttling gas supplies through the Baltic Sea pipeline

Created: 06/15/2022Updated: 06/15/2022, 16:11

The Russian energy giant Gazprom is once again reducing the gas supply volumes to Germany through the Nord Stream 1 Baltic Sea pipeline.

© Stefan Sauer/dpa

Russia is turning the gas tap again.

Again for repair work, says Gazprom.

In Germany there are doubts about this representation.

In any case, wholesale prices are rising significantly.

Moscow/Berlin - The Russian energy group Gazprom is once again reducing the maximum gas delivery volumes through the Nord Stream 1 Baltic Sea pipeline to Germany.

From Thursday morning only a maximum of 67 million cubic meters will be pumped through the pipeline every day, Gazprom announced on Wednesday afternoon.

The Russian state company once again justified this step with delays in repair work by Siemens.

Therefore, another gas compression system had to be shut down, it said.

The gas wholesale price increased significantly.

What is the reason?

Gazprom had already announced on Tuesday that it would reduce the maximum delivery volume by 40 percent to initially up to 100 million cubic meters of gas per day.

This corresponds to around 60 percent of the previously planned daily volume of 167 million cubic meters of gas.

A little later, the Federal Network Agency rejected Gazprom's statements that delays in repairs to a gas compressor unit were the reason for the reduced gas delivery volumes.

For Germany, Nord Stream 1 is the main supply pipeline with Russian gas.

The Yamal-Europe line, which runs through Poland, had previously not been filled.

The transit of Russian gas through Ukraine is also reduced.

Energy prices have increased as a result of the previous restrictions, among other things, because less gas flows from Russia to Europe overall.

Federal Economics Minister Robert Habeck (Greens) had previously classified the 40 percent cut in Russian gas supplies as politically motivated.

He also has the impression that "what happened yesterday is a political decision, not a technically justifiable decision," said Habeck on Wednesday in Berlin.

Gazprom announced on Tuesday that it would reduce gas volumes through the Nord Stream pipeline in the Baltic Sea by 40 percent.

The reason is delays in repairs by Siemens on a gas compressor unit.

The energy technology group Siemens Energy had confirmed the overhaul of the gas turbine.

Due to the sanctions imposed by Canada, she cannot be returned from Montréal at this time.

Fluctuating prices

Habeck put the step in a row with the previous suspension of gas supplies to Bulgaria, Poland and Denmark and the sanctioning of Gazprom Germania.

The Green politician spoke of a piecemeal or step-by-step approach.

"We have (...) no supply problem in Germany," assured Habeck at the same time.

We have to wait and see the effects.

So far, the suppliers have always succeeded in “raising gas from other sources”.

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A spokeswoman for Habeck said that after the step at Nord Stream, the efforts to fill up the gas storage facilities in Germany would not decrease.

The levels of gas storage are currently around 56 percent, according to the spokeswoman.

As of today, it will continue to be saved.

Of course, the situation must be closely monitored.

After the announcement of a further cut, the gas wholesale price rose sharply on Wednesday.

On Wednesday afternoon (3:34 p.m.) natural gas to be delivered on the Dutch trading platform TTF cost 108.6 euros per megawatt hour in July after 97 euros the day before.

On Monday the price was 83.4 euros, on Wednesday a week ago it was 79.4 euros.

The price fluctuates a lot.

On March 7th it was 206.9 euros.

A year ago, on June 15, 2021, a megawatt hour of July natural gas cost 18.9 euros.

dpa