Russia’s biggest oil pipeline, Nord Stream 1 is expected to halt the gas supply to Germany for the subsequent ten days. Keeping the Russian-Ukrainian war into consideration, the halt period can be extended for a longer time. Europe is buckling for an extended shutdown of Russian gas supplies as maintenance work embarks on the Nord Stream 1 pipeline that brings gas to Germany via the Baltic Sea.
The same was confirmed by the Nord Stream AG operator, which is scheduled to run from Monday through to July 21, and got underway as intended. The Nord Stream 1 pipeline is Europe’s single greatest piece of gas import infrastructure, transmitting around 55 billion cubic meters of fuel per year from Russia to Germany. The extension can result in a gas crisis and thwart winter’s supply preparation, which has spurred energy bills to climb to the sky. European governments are pushing to the limit to fill underground storage with gas supplies to donate to households with ample fuel to keep the lights on and homes warm during winter.
What do experts say?
- Analysts at political risk consultancy Eurasia Group said that if Putin directed a total cutoff of gas supplies beyond the anticipated end of maintenance works on the Nord Stream 1 pipeline, Germany would plausible be stricken to move to level three of its three-stage emergency gas plan.
- Henning Gloystein, director of energy, climate, and resources at Eurasia Group, informed CNBC that such a move would embody a “maximum economic warfare” scenario. Since, Germany is the biggest consumer of Russian gas, the most populated state in Europe, and the largest economy. So, whatever happens in Germany spills into the rest of Europe.”
- Energy analysts acknowledge that the peril of a temporary interlude is high, particularly as Russian gas flows have already dropped by about 60% in recent months.
- Several European states have been barred from buying and consumption of Russian gas because they refused Putin’s gas-for-rubles payment demand.“That is actually why though, we think Russia will return a little bit,” Gloystein said. “They want a little bit of a bargaining chip in case the Europeans tighten the sanctions further so that the Russians can retaliate with that.”
