Russia’s Nord Stream1 Pipeline has finally continued to pump gas to Europe after a 10-days maintenance break, although at a reduced level. This is a good development as there had initially been warnings that Russia could stop supplying gas to the West.
On Wednesday, 20th July 2022, the European Commission urged countries to cut gas use by 15% over the next seven months if Russia discontinues their supply. The country does not have enough energy to see them through winter. Hence, they are trying to secure supplies of liquified natural gas from other countries. In the year 2021, Russia supplied Europe with 40% of its natural gas, with Germany as the largest importer. However, the latter has reduced its dependence on Russian gas to 35%, intending to stop using it altogether.
Vladimir Putin told reporters that Russia’s gas firm Gazprom would fulfil all its contractual obligations in a bid to allay fears. Nord Stream pipeline resumed its duties, today, Thursday, July 21, 202, delivering 40% of its capacity, according to a spokesman.
This was also the level it was operating at in mid-June before the flow was cut off by Gazprom, blaming it on the delayed return of equipment being serviced by Germany’s Siemens Energy
The energy industry leaders have warned that a shortfall in gas supply may trigger a recession which is believed to be the wish of Russian President Putin, provoking economic and political chaos in the West.
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