Europe’s benchmark gas price leaps 25% as supply via Nord Stream slashed
European importers of Russian gas shrug off cuts, saying they have mostly replaced missing volumes from other sourcesLondon — Russian gas supply to Europe fell further on Thursday, sparking concerns about refilling storage for winter and igniting a diplomatic tussle as Russian supplier Gazprom blamed Western sanctions for hampering maintenance work.
Germany’s economy minister said the move was aimed at sowing uncertainty and pushing up energy prices.Gazprom blamed the cuts on delayed delivery of Siemens Energy equipment undergoing maintenance in Canada. Germany's energy regulator rejected that explanation.Uniper, Germany’s biggest importer of Russian gas, said deliveries from Russia were down a quarter from agreed volumes, but said it was able to procure the missing volumes from other sources.
Gazprom cutting supply to Germany is a warning signal that could cause problems for Europe’s biggest economy this winter, the head of the country’s energy regulator told a newspaper on Thursday."We could perhaps get through the summer as the heating season is over. But it is imperative that we fill the storage facilities to get through the winter.
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