The three-day closure of the Naram 1H growth of energy uncertainties in Europe

The three-day closure of the Naram 1H growth of energy uncertainties in Europe

Russia will ban natural gas supplies to Europe for three days at the end of August through its main pipeline in the Nord Stream 1 region. The news was announced Friday by Russian state energy giant Gazprom, and further increases pressure on European states seeking to meet reserves [...]

The news was announced Friday by Russian state energy giant Gazprom, and further increases pressure on European states that seek to meet the reserves before the winter.

Unplanned maintenance of the Nord Stream 1 gas pipeline, which runs under the Baltic Sea to Germany, deepens the energy crisis between Moscow and Brussels, which has already caused inflation in the region to rise and has increased the risk of rationing and recession.

Gazprom said the closure was because the only remaining compressor of the pipeline requires maintenance. Even the flows of gas running through other pipeline routes have declined since Russia invaded Ukraine in February, which Moscow calls a special military subx0> ”

The move will bring further divisions, especially for Germany, which depends largely on Russia's remittances to supply its industry. The European Union has accused Russia of using energy as a weapon. Moscow has denied the charge and has blamed sanctions for falling exports.

The Nord Stream pipeline already operates with only one fifth of its capacity, boosting fears that Russia can fully stop flows on the eve of the winter heating season and make it more difficult to fill storage facilities.

Before Gazprom announced closure, gas prices in Europe remained near the highest levels of five months, while gas prices in the US changed course and rose by 1.2% after the news.

Earlier, top German politicians dismissed suggestions that lack of gas could be averted, allowing the suspended Nord Stream 2 gas pipeline to enter the service, something the Kremlin has suggested as a solution.

“I strongly advise that we save the fugitive's humiliation (Russian president Vladimir) Putin for something we will not receive,” said Kevin/ REL/

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