BERLIN: Russia’s Gazprom on Wednesday halved the amount of natural gas flowing through a major pipeline from Russia to Europe to 20% of its capacity. It is the latest Nord Stream 1 shortage that Russia has blamed on technical problems, but what Germany calls a political move to sow uncertainty and raise prices amid the war in Ukraine.
Gazprom announced on Monday that it will reduce flow on the Nord Stream 1 pipeline leading to Germany due to equipment repairs. This has sparked new fears that Russia could completely cut off gas that is used for the power industry, create electricity and heat houses to try to gain a political advantage over Europe as it winters. tries to increase its storage level. Nord Stream’s network data and Germany’s head of network regulator Klaus Müller confirmed the cuts.
Natural gas prices have risen to levels not seen since early March and are nearly six times higher than a year ago. Rising energy prices are fueling record inflation, eroding people’s spending power and raising concerns that Europe could fall into recession if it doesn’t store enough gas to get through the winter. could. That fear prompted EU governments on Tuesday to agree to reduce natural gas use.