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August 19, 2022
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Announcement of closure for maintenance of the Nord Stream gas pipeline boosts energy prices in Europe

Announcement of closure for maintenance of the Nord Stream gas pipeline boosts energy prices in Europe

The Russian energy giant Gazprom announced this Friday that it will close for 3 days (from August 31 to September 2) the gas pipeline North Streaman announcement that raised even more the energy price in Europe.

“Maintenance is required every 1,000 hours” of operation, Gazprom said in a statement.

On August 31, 2022, the only Trent 60 gas compression unit will stop for three days for maintenance”, with the participation of German technicians from Siemens, Gazprom said.

Therefore, “the transport of gas through the Nord Stream gas pipeline will be suspended for three days.” After this period, the flow of 33 million cubic meters of gas per day will be restored, according to the Russian company.

The news was added to the already significant rise in gas price in europewhich fears that Russia will cut off supply, causing a significant rise in price.

The reference market in Europe, the Dutch TTF, reached 257.40 euros (about 258 dollars) before the close, a level not seen since March 7, in the first days of the Russian invasion of Ukrainewhen it reached 345 euros (about 346.50 dollars).

Since the Western powers imposed sanctions on Moscow, Russia repeatedly reduced its gas deliveries to Europe.

In 2021, Russia represented an average of 40% of gas imports from the European Union.



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