Berliner Boersenzeitung - Russia halts gas supplies to Germany

EUR -
AED 4.021503
AFN 73.974597
ALL 98.722789
AMD 422.669128
ANG 1.970756
AOA 999.073261
ARS 1065.84545
AUD 1.62179
AWG 1.971313
AZN 1.865626
BAM 1.955657
BBD 2.207839
BDT 130.670456
BGN 1.955539
BHD 0.41227
BIF 3225.864382
BMD 1.09487
BND 1.428296
BOB 7.583446
BRL 6.144196
BSD 1.09352
BTN 91.900888
BWP 14.51194
BYN 3.578539
BYR 21459.452596
BZD 2.204139
CAD 1.507253
CDF 3151.036344
CHF 0.938544
CLF 0.03677
CLP 1018.515607
CNY 7.736575
CNH 7.74406
COP 4594.964383
CRC 564.858743
CUC 1.09487
CUP 29.014056
CVE 110.256947
CZK 25.320626
DJF 194.715778
DKK 7.468879
DOP 65.835191
DZD 145.736004
EGP 53.12012
ERN 16.42305
ETB 130.945336
FJD 2.431492
FKP 0.837761
GBP 0.837761
GEL 2.972616
GGP 0.837761
GHS 17.468695
GIP 0.837761
GMD 75.002813
GNF 9455.297972
GTQ 8.470972
GYD 229.203488
HKD 8.507009
HNL 27.186048
HRK 7.542593
HTG 144.340375
HUF 401.69729
IDR 17046.195734
ILS 4.115431
IMP 0.837761
INR 92.126293
IQD 1433.732305
IRR 46096.769633
ISK 149.614412
JEP 0.837761
JMD 173.444435
JOD 0.77572
JPY 163.287865
KES 141.238618
KGS 93.615547
KHR 4450.647057
KMF 492.144285
KPW 985.383411
KRW 1477.330449
KWD 0.335611
KYD 0.912922
KZT 530.419678
LAK 23955.756647
LBP 98045.611605
LKR 320.681494
LRD 211.090958
LSL 19.149694
LTL 3.232867
LVL 0.662276
LYD 5.249945
MAD 10.733563
MDL 19.235343
MGA 5019.979469
MKD 61.721903
MMK 2297.037703
MNT 3720.368742
MOP 8.768618
MRU 43.521498
MUR 50.473509
MVR 16.806669
MWK 1900.69475
MXN 21.108366
MYR 4.69426
MZN 69.962187
NAD 19.14969
NGN 1795.587226
NIO 40.324475
NOK 11.711546
NPR 147.31642
NZD 1.792107
OMR 0.420919
PAB 1.09487
PEN 4.110803
PGK 4.305303
PHP 62.65941
PKR 304.100561
PLN 4.294387
PYG 8550.309019
QAR 3.986536
RON 4.980021
RSD 117.083977
RUB 104.753153
RWF 1483.548891
SAR 4.111472
SBD 9.04913
SCR 14.87092
SDG 658.568348
SEK 11.355384
SGD 1.429029
SHP 0.837761
SLE 25.014827
SLL 22958.881115
SOS 625.171157
SRD 34.97727
STD 22661.599096
SVC 9.58638
SYP 2750.894202
SZL 19.054736
THB 36.242353
TJS 11.678367
TMT 3.842994
TND 3.362387
TOP 2.584335
TRY 37.53401
TTD 7.436211
TWD 35.194596
TZS 2985.235164
UAH 45.113294
UGX 4026.27158
USD 1.09487
UYU 45.702439
UZS 14003.388055
VEF 3966224.203526
VES 42.301013
VND 27174.749005
VUV 129.985201
WST 3.069587
XAF 656.208756
XAG 0.034703
XAU 0.000412
XCD 2.958941
XDR 0.81497
XOF 656.208756
XPF 119.331742
YER 274.100784
ZAR 19.061233
ZMK 9855.148044
ZMW 28.94922
ZWL 352.547703
  • NGG

    0.5600

    66.24

    +0.85%

  • SCS

    0.3100

    12.91

    +2.4%

  • GSK

    -0.3800

    38.83

    -0.98%

  • VOD

    -0.0900

    9.65

    -0.93%

  • CMSC

    0.1200

    24.71

    +0.49%

  • RYCEF

    0.0100

    7.01

    +0.14%

  • AZN

    0.4800

    77.35

    +0.62%

  • RIO

    0.3900

    67.23

    +0.58%

  • BCC

    3.4200

    142.37

    +2.4%

  • BTI

    0.0700

    35.18

    +0.2%

  • RBGPF

    1.7400

    61.23

    +2.84%

  • BCE

    0.1600

    33.02

    +0.48%

  • JRI

    0.0300

    13.25

    +0.23%

  • BP

    -0.2300

    32.11

    -0.72%

  • RELX

    0.4700

    46.83

    +1%

  • CMSD

    0.1800

    24.95

    +0.72%

Russia halts gas supplies to Germany
Russia halts gas supplies to Germany / Photo: Kirill KUDRYAVTSEV - AFP/File

Russia halts gas supplies to Germany

Russia has halted gas deliveries to Germany via a key pipeline an indefinite period after saying Friday it had found problems in a key piece of equipment, a development that will worsen Europe's energy crisis.

Text size:

Russian gas giant Gazprom said Friday that the Nord Stream pipeline due to reopen at the weekend would remain shut until a turbine is repaired.

In a statement, Gazprom indicated it had discovered "oil leaks" in a turbine during a planned three-day maintenance operation.

Gazprom added that "until it is repaired... the transport of gas via Nord Stream is completely suspended".

Resumption of deliveries via the pipeline which runs from near St Petersburg to Germany under the Baltic Sea, had been due to resume on Saturday.

Gazprom said it had discovered the problems while carrying out maintenance with representatives of Siemens, which manufactured the turbine in a compressor station that pushes gas through the pipeline.

On its Telegram page it published a picture of cables covered in a brown liquid.

Earlier in the day, the Kremlin warned the future operation of the Nord Stream pipeline, one of Gazprom's major supply routes, was at risk due to a lack of spare parts.

"There are no technical reserves, only one turbine is working," Kremlin spokesman Dmitry Peskov told reporters.

"So the reliability of the operation, of the whole system, is at risk," he said, adding that it was "not through the fault" of Russian energy giant Gazprom.

Following the imposition of economic sanctions over the Kremlin's invasion of Ukraine, Russia has reduced or halted supplies to different European nations, causing energy prices to soar.

The Kremlin has blamed the reduction of supplies via Nord Stream on European sanctions which it says have blocked the return of a Siemens turbine that had been undergoing repairs in Canada.

Germany, which is where the turbine is located now, has said Moscow is blocking the return of the critical piece of equipment.

Berlin has previously accused Moscow of using energy as a weapon.

The announcement by Gazprom comes the same day as the G7 nations said they would work to quickly implement a price cap on Russian oil exports, a move which would starve the Kremlin of critical revenue for its war effort.

Gazprom also announced the suspension of gas supplies to France's main provider Engie from Thursday after it failed to pay for all deliveries made in July.

- 'Much better position' -

As winter approaches, European nations have been seeking to completely fill their gas reserves, secure alternative supplies, and put into place plans to reduce consumption.

A long-term halt to Russian gas supplies would complicate efforts by some nations to avoid shortages and rationing, however.

Germany said Friday its gas supplies were secure despite the halt to deliveries via Nord Stream.

"The situation on the gas market is tense, but security of supply is guaranteed," a spokeswoman for the economy ministry said in a statement.

The spokeswoman did not comment on the "substance" of Gazprom's announcement earlier Friday but said Germany had "already seen Russia's unreliability in the past few weeks".

German officials have in recent times struck a more positive tone about the coming winter.

Before the latest shutdown, Chancellor Olaf Scholz said Germany was now "in a much better position" in terms of energy security, having achieved its gas storage targets far sooner than expected.

Europe as a whole has also been pushing ahead with filling its gas storage tanks, while fears over throttled supplies have driven companies to slash their energy usage.

Germany's industry consumed 21.3 percent less gas in July than the average for the month from 2018 to 2021, said the Federal Network Agency.

Agency chief Klaus Mueller has said such pre-emptive action "could save Germany from a gas emergency this winter".

Europe as a bloc meanwhile has been preparing to take emergency action to reform the electricity market in order to bring galloping prices under control.

Fear of shortages of natural gas has driven futures contracts for electricity in France and Germany to record levels.

European consumers are also bracing for huge power bills as utilities pass on their higher energy costs.

burs-rl/har

(B.Hartmann--BBZ)