The announcement of the closure of the Nord Stream pipeline boosts gas prices in Europe

by time news

The Russian giant Gazprom energy announced on Friday that it will close for 3 days (from August 31 to September 2) the gas pipeline Nord Streaman announcement that pushed up the price of energy even more in Europa. “Maintenance is required every 1,000 hours” of operation, Gazprom said in a statement.

“On August 31, 2022, the only Trent 60 gas compression unit will stop for three days for maintenance,” with the participation of German technicians from Siemens, Gazprom said. So “the transport of gas through the pipeline Nord Stream will be suspended for three days.” After this period, the flow of 33 million cubic meters of gas per day will be restored, according to Gazprom.

The news was added to the already significant rise in precio of gas in Europe, which fears that Russia will cut off supplies, causing a significant rise in price.

Consequence of the war

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The reference market in Europe, the Dutch TTF, reached 257.40 euros ($258) before the close, a level not seen since March 7, in the first days of the Russian invasion of Ukrainewhen it hit 345 euros ($346.50).

Since Western powers imposed sanctions on Moscow, Russia has repeatedly reduced its gas deliveries to Europe. In 2021, Russia represented an average of 40% of gas imports from the European Union.

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