Russian energy giant Gazprom stops gas deliveries to Europe via the Nord Stream pipeline
Image courtesy:Reuters
On Wednesday, Russian gas deliveries to Europe via the Nord Stream pipeline have been stopped, its operator Entsog says.
Russian energy giant Gazprom claims that it would be halting deliveries for three days for maintenance work which further raises tensions in an already taut electricity market.
A three-day-halt of the Nord Stream pipeline — a key source of natural gas for the European Union — starts on Wednesday, and concerns are widespread that Moscow will find another excuse to suppress on supplies, putting the region at the mercy of the weather, Bloomberg reports.
Gazprom PJSC hours ahead of the outage sets an unsettling tone by informing French utility Engie SA that it will be halting deliveries from Thursday due to the disagreement over payments. The move widens cutbacks to the continent as Moscow retaliates for sanctions related to its invasion of Ukraine.
An extremely bad situation will necessitate a complete cutoff of Russian gas to the region and an early cold snap. With some alternative supplies available, a surge in heating demand would push prices to newer heights, which can instigate social disruption and test Europe’s resolve for supporting Ukraine.
