Russia shuts down Nord Stream 1 pipeline to Germany, energy crisis deepens

Russian energy firm Gazprom shut down the Nord Stream 1 pipeline on Wednesday for unscheduled “maintenance work” on the Trent 60 gas compressor unit operating on the critical supply route to Germany.

Gas supply to Europe is scheduled for suspension until 2 September, temporarily crippling the continent’s efforts to stockpile energy supplies in advance of winter.

- Advertisement -

Gazprom reported gas transmission would resume on 2 September at a rate of 33 million cubic metres per day, provided “no further malfunctions are identified.”

The Nord Stream 1 pipeline was previously closed down for 10 days in July for repairs, however the current shutdown was announced with less than two weeks’ notice, sending Europe into an energy crisis spiral.

Russia previously cut Nord Stream 1 to 40% capacity in June and 20% in July, citing maintenance complications and sanctions apparently barring the installation of necessary equipment.

Gas prices have spiked by 400% as countries rush to stockpile supplies in fears Russia will cut off its flow entirely as the continent heads into a deepening cost of living crisis.

Latest News

Subscribe to the UK Investor Magazine email newsletter

Register for our free email newsletter and receive the latest investment news, podcasts, event information and offers.

More Articles Like This