An emergency law to save Uniper, the main importer of Russian gas, is submitted to Parliament.
Berlin
The gas supply curve via Nord Stream 1 has remained at a low but stable level since mid-June. Next Monday will begin the annual overhaul on the 1,200 kilometer offshore gas pipeline between Portonovaya and Greifswald: the orange-colored route will drop to zero. Maintenance work is due to last until July 21, but only supplier Gazprom knows whether deliveries will resume. In Berlin, nobody believes it. With the flow down to two-thirds, the energy sector is already on high alert. Uniper, Russia’s main gas importer, sounded the alarm last week. Its shares lost more than a quarter of their value, falling to their lowest level in more than five and a half years.
Read alsoThe German Uniper, the first victim of the Russian gas crisis
So far, about 200 of the 370 terawatt hours of long-term delivery contracts have come from Russia. The gas must now be offset by purchases on the European commodity exchanges. The prices on the…
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