MOSCOW (Parliament Politics Magazine) – Concerns over energy supply this winter have increased as a result of Russia’s main gas pipeline to Europe not reopening as scheduled on Saturday.
The Nord Stream 1 pipeline may be closed indefinitely after the state-owned energy company Gazprom reported discovering a leak.
The Germany-bound pipeline has been closed for three days for what Gazprom referred to as maintenance work.
In the midst of the war in Ukraine, Russia has been accused by Europe of exploiting its gas supply to blackmail Europe. Moscow denies this accusation.
Since Russia’s invasion of Ukraine, energy prices have increased sharply, and dwindling supplies could cause prices to rise even more.
Families in the EU are worried that they won’t be able to pay the heating expenses this winter.
The UK might not go unaffected either. Although not dependent on Nord Stream 1, the interruption of the pipeline might increase the cost of wholesale gas, which is what has caused the energy price cap to grow exponentially.
The BBC’s economics editor, Faisal Islam, called the Nord Stream 1 pipeline’s prolonged suspension a very serious development, pointing out that Russia had maintained supplies to Europe even during the height of the Cold War.
Germany’s gas reserves have increased from less than half in June to 84% full today as a result of the standoff with Russia, which has compelled countries to replenish their own gas supply.
Although they have decreased during the previous week, global gas prices are still high by normal standards.
In an effort to limit Moscow’s capacity to fund the war, Europe is attempting to wean itself from Russian energy, but the change may not happen soon enough.
Charles Michel, president of the EU Council, said the action by Russia was unfortunately no surprise.
The EU’s determination would not be altered by the use of gas as a weapon. Their progress toward energy independence would be accelerated. Protecting their citizens and supporting Ukraine’s freedom was their duty, he said in a Tweet.Â
Moscow rejects the use of energy supply as a tool for economic warfare against the Western nations that support Ukraine.
Russia holds the sanctions responsible for the delay in maintenance of Nord Stream 1 but the EU believes it is just an excuse.
The Bundesnetzagentur, the network regulator for Germany, stated that the country was now prepared to handle the interruption of gas supply from Russia, though it urged its citizens and companies to reduce consumption.
The announcement came from Gazprom soon after the G7 countries decided to put a cap on the price of Russian oil in support of Ukraine.
Canada, France, Germany, Italy, Japan, US and the UK make up the G7 (Group of Seven).
By the price cap introduction, they are allowing nations who give consent to the policy to only buy Russian oil and petroleum products that are transported by sea and are being sold at or below the fixed price cap.
However, Russia asserts that it would not supply to countries who agree to the cap.
The fault, according to Gazprom, was found at the Portovaya compressor station during inspection of which workers from Siemens were also a part. Siemens is a German company that is responsible for the maintenance of the turbine.
It said that only specialised workshops, which had been constrained by Western sanctions, could repair oil leaks in major engines.
Siemens, however, stated that such leaks could be fixed on the site and normally did not interfere with the functioning of the turbine. It is a standard procedure and within the parameters of maintenance work.
