The Nord Stream 1 gas pipeline from Russia to a desperate Europe was supposed to re-open yesterday, instead, Russia announced that it will remain closed due to an oil leak, indefinitely. The announcement was made after markets closed. Germany has about 3 months of gas in storage.
Gas prices are expected to rise Monday.
Ukraine war: Russia to keep key gas pipeline to EU closed
By Robert Plummer & Oliver Slow
BBC News
Faisal Islam, the BBC’s economics editor, described the indefinite closure of Nord Stream 1 as a very serious development, noting that Russia had kept supplies into Europe flowing even at the height of the Cold War.
The stand-off with Russia has forced countries to fill their own gas supplies, with Germany’s stores increasing from less than half in June to 84% full today.
Apparently this is the oil spill that shut down a billion dollar pipeline:
Just bad luck then?
Twitter commenters have some doubts:
@PolemicTMM –– Masterful trolling of the EU by Mr P.
@PrivatinvestN — Is this a Friday night joke or have they actually published this?
@JavierBlas — They did. Obviously, all pretences are gone.
@NathanEYates — Looks like a coffee spill.
@vulcanhammer –– You’ve obviously never had Russian instant coffee. You would then understand why the pipeline is closed.
Jokes aside, Javier Blas warns — “it’s down for good”
Gazprom seems to imply here that the only operating turbine at Nord Stream 1 pipeline can only be repaired now at one of (overseas) Siemens Energy specialised workshops, and until that happens, the pipeline won’t re-start (in other words, it’s down for good)
Seimens says that the leak should not stop the operation of the pipeline.
““… we have already pointed out several times that there are sufficient other turbines available at the Portovaya compressor station for Nord Stream 1 to operate,” Siemens Energy said.“
Looks like another move in the energy wars which didn’t have to be this way.
If only Europe had an energy policy that wasn’t designed by teenage girls.