It is expected that gas flows via Nord Stream 1, which runs from Russia to Germany via the Baltic Sea, will be suspended from Aug. 31 through to Sept. 3.
The temporary halt to supplies reflects a deepening gas dispute between Russia and the European Union and underscores both the risk of a recession and a winter shortage.
"Europe is in full bunkering mode and taking no chances with Russian supplies heading into the winter," said Wei Xiong, senior analyst at energy consultancy Rystad Energy.Odd Andersen | Afp | Getty Images Russia's state-owned energy giant Gazprom on Wednesday halted gas flows to Europe via a major pipeline, citing maintenance works on its only remaining compressor., with Gazprom saying in mid-August that gas flows would be suspended for a three-day period for maintenance works.
Gazprom previously said that gas transmission would resume at a rate of 33 million cubic meters per day when the maintenance work is completed "provided that no malfunctions are identified."deepening gas dispute between Russia and the European UnionRussia has drastically reduced gas supplies to Europe in recent weeks, with flows via the Nord Stream 1 pipeline operating at just 20% of the agreed-upon volume.
European policymakers are currently racing to secure gas supplies in underground facilities in order to have enough fuel to keep homes warm during the colder months."Europe is in full bunkering mode and taking no chances with Russian supplies heading into the winter," Wei Xiong, senior analyst at energy consultancy Rystad Energy, said in a research note.
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