Europe is on edge as the Nord Stream Russian gas link begins to shut down

• The largest pipeline transporting Russian gas to Germany started its yearly repair, with flows anticipated to cease for 10 days.
• However, governments, markets, and businesses are concerned that the closure may last longer due to the conflict in Ukraine.
• Under the Baltic Sea, the Nord Stream 1 pipeline carries 55 billion cubic meters (bcm) of gas from Russia to Germany each year.

The largest pipeline transporting Russian gas to Germany started its yearly repair, with flows anticipated to cease for 10 days. However, governments, markets, and businesses are concerned that the closure may last longer due to the conflict in Ukraine.

Under the Baltic Sea, the Nord Stream 1 pipeline carries 55 billion cubic meters (bcm) of gas from Russia to Germany each year. From July 11 to 21, there will be maintenance.

Gas flows would cease a few hours after the shutdown began as scheduled at 0600 CET, according to operator Nord Stream AG.

Last month, Russia reduced flows to 40% of the pipeline’s total capacity, blaming the delay in the equipment’s return from Canadian maintenance by German company Siemens Energy (ENR1n.DE).

Canada announced at the weekend that it would return a repaired turbine but would also tighten sanctions on Russia’s energy industry.

Russia could extend planned maintenance to further restrict European gas supplies, which would upend plans to fill storage for the winter and intensify a gas crisis that has already triggered government emergency measures and exorbitantly high rates for consumers.

According to German Economy Minister Robert Habeck, the nation should prepare for the potential that Russia would stop supplying gas through Nord Stream 1 after the intended repair window.

At a gathering at the end of June, he said, “Based on the trend we’ve seen, it would not be very strange now if some little, technical element is uncovered and then they might say “now we can’t turn it on any longer”

According to Dmitry Peskov, a spokesman for the Kremlin, no one was “creating” any repairs, and the maintenance closure was a routine, scheduled event. He also rejected suggestions that Russia was using oil and gas to apply political pressure.

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