Germany sees possible Russian 'blockade' of key gas pipeline


File-File photo shows view of pipe systems and shut-off devices at the gas receiving station of the Nord Stream 1 Baltic Sea pipeline and the transfer station of the OPAL (Ostsee-Pipeline-Anbindungsleitung - Baltic Sea Pipeline Link) long-distance gas pipeline in Lubmin, Germany, June 21, 2022. (Stefan Sauer/dpa via AP,file)

BERLIN (AP) — Germany's vice chancellor said Thursday he suspects that Russia may not resume natural gas deliveries to Europe through the Nord Stream 1 pipeline after planned maintenance work in July, complicating the outlook for this winter.

Russia reduced gas flows to Germany, Italy, Austria, the Czech Republic and Slovakia this month, just as European Union countries scramble to refill storage facilities with the fuel used to generate electricity, power industry and heat homes in the winter.

Russian state-owned energy giant Gazprom has blamed a technical problem for the reduction in gas flowing through Nord Stream 1, which runs under the Baltic Sea from Russia to Germany. The company said equipment being refurbished in Canada was stuck there because of Western sanctions over Russia's invasion of Ukraine.

German leaders have rejected that explanation and called the reductions a political move.

Vice Chancellor Robert Habeck, who is also Germany’s economy and climate minister and responsible for energy, said a “blockade” of the pipeline is possible starting July 11, when regular maintenance work is due to start. In previous summers, the work has entailed shutting the for about 10 days, he said.

“But given the pattern we have seen, it wouldn't be so super-surprising if some little technical detail is found and then they say, ‘We can’t switch it on again; now we found something during maintenance and that's it,'” Habeck told a forum organized by the Sueddeutsche Zeitung newspaper.

“So the situation is certainly tight,” he said, stressing the importance of filling storage and getting liquefied natural gas terminals up and running. At present, Germany is continuing to store gas, albeit at about half the rate it was before deliveries through Nord Stream 1 were reduced, the vice chancellor said.

A week ago, Habeck activated the second phase of Germany's three-stage emergency plan for natural gas supplies, warning that Europe’s biggest economy faced a “crisis” and storage targets for the winter were at risk.


___

Follow AP's coverage of the Russia-Ukraine war at https://apnews.com/hub/russia-ukraine

→ Dollar Cancelled (From Lear Capital) (Ad)

Where should you invest $1,000 right now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

The 10 Best AI Stocks to Own in 2024 Cover

Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.

Get This Free Report

Featured Articles and Offers

Search Headlines: