Page 3 - Gas Supplies

What are the Nord Stream 1 & 2 pipelines?

Financial markets in Europe sunk on Monday after the Russian decision to snap the gas supply via its Nord Stream 1. Know more about this pipeline, and why is it so crucial for Europe?

Euro falls below 99 cents hitting 20-year low on Russian gas halt concerns

The euro fell below 99 cents for the first time in nearly two decades, while sterling was on the ropes on Monday as Russia's halt on gas supply down its main pipeline to Europe sparked concerns

Global stocks sink as Europe faces new squeeze on Russian gas supply

Global stock markets sank Monday as Europe faced a new squeeze on Russian gas supplies. London and Frankfurt opened lower. Tokyo, Hong Kong and South Korea fell while Shanghai gained. Oil prices rose more than USD 2 per barrel while the euro edged lower. Markets were roiled by Russian energy giant Gazprom's announcement Friday that a suspension of gas supplies through the Nord Stream 1 pipeline would be extended indefinitely. That adds to shortages in Germany and other economies. In early trading, the FTSE 100 in London lost 1.1% to 7,198.73 and the DAX in Frankfurt tumbled 3.2% to 12,628.44., The CAC 40 in France fell 2% to 6,047.28. Gazprom's announcement puts European stocks under heavy pressure, said Chris Turner of ING in a report. Also Friday, U.S. government data showed hiring slowed in August but wages rose sharply. Forecasters said the Federal Reserve might see that as evidence more interest rate hikes are needed to bring down inflation that is at a four-decade high. Mar

Gas flows from Russia look set to resume on Nord Stream after works

Grid data indicate that flows will resume on Saturday at 20% of capacity as planned

Russia's halt on gas supplies tightens energy screws on Europe

European governments fear Moscow could extend the outage in retaliation for Western sanctions imposed after it invaded Ukraine and have accused Russia of using energy supplies as a "weapon of war"

Russia temporarily stops gas flow to Europe through Nord Stream 1

Russia's Gazprom stopped the flow of natural gas through a major pipeline from Russia to Europe early Wednesday, a temporary move to it announced in advance. The Russian state-controlled energy giant said earlier this month that it would the cut the flow of gas through the Nord Stream 1 pipeline until Saturday for what it says is a three-day pause for routine maintenance at a compressor station. According to Gazprom, the only remaining turbine, which is located at the Portovaya compressor station, needs maintenance. The head of Germany's Federal Network Agency, Klaus Mueller, has said that the maintenance work is technically incomprehensible and he considers it a way of punishing Germany for siding with Ukraine since the Russian invasion. Gazprom has repeatedly reduced the flow of gas through Nord Stream 1 claiming technical issues such as equipment repairs. Germany calls these cuts a political move to sow uncertainty and push up prices amid the war in Ukraine. Russia has also redu

German suppliers register for payments from funds under special gas levy

12 gas suppliers in Germany have registered claims for payments from funds to be collected under a new gas levy to be charged to consumers between October 1 this year and March 2024

Euro again below parity versus dollar; gas supply crisis weighs

China's yuan dropped to its lowest in nearly two years after the central bank cut key lending rates.

Europe gas prices jump as latest Russian cut plan stokes supply fears

European gas prices surged after Moscow's move to shut a major pipeline ramped up fears of a prolonged supply halt, leaving Germany once again guessing as to how much Russian fuel it can count on

Centre asks state-run firms to explore plans amid LNG supply crisis: Report

Gas supplies to India have been hit due to the ongoing Russia-Ukraine war

UK industries and households brace for blackouts, gas shortage in January

Under the government's latest "reasonable worst-case scenario," Britain could face an electricity capacity shortfall totaling about a sixth of peak demand

GAIL feels blowback from Ukraine war as former Gazprom unit cuts supplies

A former Gazprom subsidiary reneges on its supply contract forcing the state-owned gas distributor to cut back supplies to key industries

European Union heaves sigh of relief as Russia restarts gas supply

Russia says Ukrainian drone struck nuclear plant but caused no damage

EU tells members to reduce gas consumption amid new Putin warning

Deliveries via Nord Stream 1, which accounts for more than a third of Russian gas exports to the EU, are due to resume on Thursday after a 10-day halt for annual maintenance

Putin warns EU that gas supplies could keep dwindling due to West's fault

Russian President Vladimir Putin said Tuesday that the flow of Russian natural gas to European customers has dwindled due to the West's own fault and warned that it could continue ebbing. Putin's statement further cranked up pressure on the European Union, which fears Russia could cut off gas to wreak economic and political havoc in Europe in the winter. Speaking to Russian reporters in Tehran, where he attended the talks with the leaders of Iran and Turkey, Putin said the amount of gas pumped through the Nord Stream pipeline to Germany will fall further from 60 million to 30 million cubic meters a day, or about one fifth of its capacity, if a turbine isn't quickly replaced. He added that Russia could launch the recently completed Nord Stream 2 pipeline that has never entered service, but noted that it would only have half of its designated capacity because the rest has been used for domestic needs. The Russian leader also warned the West that its plan to cap the prices of Russian

Natural gas soars 700%, becoming driving force in the new cold war

In short, natural gas now rivals oil as the fuel that shapes geopolitics. And there isn't enough of it to go around

Russia's Gazprom says will halt gas supplies to Netherlands from today

Russia's Gazprom Export has said it would suspend gas supplies to Dutch energy company GasTerra from Tuesday due to its refusal to pay in rubles

Ukraine crisis: Russia cuts gas supplies to unit seized by Germany

Moscow prohibited dealings with Gazprom Germania and its various subsidiaries now under the control of Germany's energy regulator

EU energy ministers meet to discuss Russian gas, sanctions over Ukraine war

The European Commission is working on a sixth round of measures which could include oil restrictions, but Russia-dependent countries like Hungary and Slovakia are wary of taking tough action

Azerbaijan to increase natural gas supplies to Europe by 30% in 2022

Azerbaijan exported 2.6 bcm of natural gas to Europe in the first quarter of 2022