Is Moscow trying to asphyxiate the European Union?
The Russian Nord Stream 1 gas pipeline will suspend deliveries to Europe from August 31 for 3 days. Information that fell on Friday and which caused a sharp rise in the Dutch TTF futures contract, the benchmark for natural gas in Europe, which was trading for €249 per megawatt hour (MWh) around 11:50 a.m. GMT (1:50 p.m. in Paris). ), Such a level, which hides the fear of a gas shortage as winter approaches, has not been seen in trading since the first days of Russia’s invasion of Ukraine.
Reason for the interruption given by the Russians: maintenance of technical installations. Its a press release from Gazprom, “It is necessary to carry out maintenance every 1,000 hours” of operation”. “Siemens technicians will participate in the operation”, further specifies the Russian giant in response to those who equate these interruptions to energy blackmail Deliveries will resume at the end of the review period at the rate of 33 million cubic meters of gas per day Moscow supplies around 40% of Europe’s needs A 10-day supply stoppage in July had revived fears of shortages on the part of Europeans worried about the behavior of their main supplier as winter approaches. Soaring gas prices are one of the main sources of inflation in the old continent. “Before the Covid crisis, gas was 17 euros per megawatt-hour, until a few hours ago it was 240 euros per megawatt-hour and since Gazprom’s announcement it has just increased to 265 euros per megawatt-hour,” says Da mine Ernst, energy specialist and professor at the University of Liège quoted by I24.