The Russian Gas Cut Is Tightening The Energy Screws In Europe

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Shutdown for maintenance on the Nord Stream 1 pipeline No streams to Germany 0100 GMT 31 August – 0100 GMT 3 September European governments fear Moscow may extend the shutdown German regulator: we’re saving gas, we have to keep doing it Siemens Energy: not involved in maintenance work

FRANKFURT/LONDON, Aug 31 (Reuters) – Russia cut gas supplies through Europe’s main supply route on Wednesday, intensifying an economic battle between Moscow and Brussels and raising the prospect of a recession and energy hoarding in some of its richest countries. area. European governments fear Moscow could extend the shutdown in retaliation for Western sanctions imposed after its invasion of Ukraine and have accused Russia of using energy supplies as a “weapon of war.” Moscow denies doing so and has cited technical reasons for the supply cuts. Russia’s state energy giant Gazprom ( GAZP.MM ) said Nord Stream 1, the largest pipeline carrying natural gas to its top customer Germany, will be out of service between 01:00 GMT on Aug. 31 and 01:00 GMT on September 3. read more Sign up now for FREE unlimited access to Reuters.comSign up The operator of the pipeline confirmed that no gas was flowing Wednesday morning. read more The chairman of Germany’s grid regulator said Germany was now better prepared for the outage as its gas storage was almost 85% full and it was securing supplies from other sources. “We can get gas from storage in the winter, we’re saving gas (and we need to keep doing it!), LNG terminals are coming and thanks to Belgium, the Netherlands, Norway (and soon France), gas is flowing Klaus Müller tweeted. Further curbs on European gas supplies would deepen an energy crisis that has already seen wholesale gas prices rise 400% since last August, squeezing consumers and businesses and forcing governments to spend billions to ease the burden. read more In Germany, inflation jumped to its highest level in nearly 50 years in August and consumer sentiment is expected to hit a record low for a third month in a row next month as households brace for higher energy bills. read more

DOWN SUPPLIES

Unlike last month’s 10-day maintenance on Nord Stream 1, the latest work was announced less than two weeks earlier and is being carried out by Gazprom, not its operator. Moscow, which cut supply through the pipeline to 40% of capacity in June and 20% in July, blames maintenance issues and sanctions it says are preventing the return and installation of equipment. Gazprom said the latest shutdown was necessary to maintain the pipeline’s only remaining compressor at the Portovaya station in Russia, saying the work would be carried out jointly with Siemens specialists. Siemens Energy ( ENR1n.DE ), which has carried out maintenance work on compressors and turbines at the station in the past, said on Wednesday it was not involved in the maintenance but was ready to inform Gazprom if necessary. read more Russia has also completely stopped supplying Bulgaria, Denmark, Finland, the Netherlands and Poland and reduced flows through other pipelines since it launched what Moscow calls a “special military operation” in Ukraine. read more On Tuesday, Gazprom said it would also suspend gas deliveries to its French contractor over a payment dispute, which France’s energy minister called an excuse, but added that the country had anticipated the loss of supply. read more German Economy Minister Robert Habeck, on a mission to replace Russian gas imports by mid-2024, earlier this month said Nord Stream 1 was “fully operational” and there were no technical issues as claimed by Moscow.

“ELEMENT OF SURPRISE”

Europe’s biggest economy is filling its natural gas storage facilities faster than expected, but it is still not enough to see the country through the winter, he said. Reduced flows through Nord Stream have complicated efforts across Europe to conserve natural gas to cope with the winter months, when governments fear Russia may cut off flows altogether. “It is something of a miracle that gas fill levels in Germany have continued to rise nonetheless,” Commerzbank analysts wrote, noting that the country has so far been able to buy enough at higher prices elsewhere. Meanwhile, some Europeans are voluntarily reducing their energy consumption by limiting the use of electrical appliances and showering at work to save money as companies prepare for possible rationing. read more With storage tanks 83.65% full, Germany is already close to its 85% target set for October 1, but has warned that reaching 95% by November 1 would be a burden unless companies and households drastically reduce consumption. For the European Union as a whole, the current storage level is 80.17%, already above the 80% target set for October 1, when the continent’s heating season begins. Goldman Sachs analysts said their basic assumption was that the latest Nord Stream 1 outage would not be extended. “If it were to happen, there would no longer be an element of surprise and reduced revenue, while low flows and the occasional drop to zero have the potential to keep market volatility and political pressure higher in Europe,” they said. Sign up now for FREE unlimited access to Reuters.comSign up Report by Nina Chestney and Christoph Steitz. Additional reporting by Matthias Inverardi, Bharat Govind Gautam and Eileen Soreng. Editing: Veronica Brown, Carmel Crimmins, Lincoln Feast and Tomasz Janowski Our Standards: The Thomson Reuters Trust Principles. Nina Chestney Thomson Reuters He oversees and coordinates EMEA’s coverage of the energy, natural gas, LNG, coal and coal markets and has 20 years of experience in journalism. He writes about these markets, as well as climate change, climate science, the energy transition and renewable energy and investment.

title: “The Russian Gas Cut Is Tightening The Energy Screws In Europe Klmat” ShowToc: true date: “2022-10-30” author: “Lisa Ray”

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Shutdown for maintenance on the Nord Stream 1 pipeline No streams to Germany 0100 GMT 31 August – 0100 GMT 3 September European governments fear Moscow may extend the shutdown German regulator: we’re saving gas, we have to keep doing it Siemens Energy: not involved in maintenance work

FRANKFURT/LONDON, Aug 31 (Reuters) – Russia cut gas supplies through Europe’s main supply route on Wednesday, intensifying an economic battle between Moscow and Brussels and raising the prospect of a recession and energy hoarding in some of its richest countries. area. European governments fear Moscow could extend the shutdown in retaliation for Western sanctions imposed after its invasion of Ukraine and have accused Russia of using energy supplies as a “weapon of war.” Moscow denies doing so and has cited technical reasons for the supply cuts. Russia’s state energy giant Gazprom ( GAZP.MM ) said Nord Stream 1, the largest pipeline carrying natural gas to its top customer Germany, will be out of service between 01:00 GMT on Aug. 31 and 01:00 GMT on September 3. read more Sign up now for FREE unlimited access to Reuters.comSign up The operator of the pipeline confirmed that no gas was flowing Wednesday morning. read more The chairman of Germany’s grid regulator said Germany was now better prepared for the outage as its gas storage was almost 85% full and it was securing supplies from other sources. “We can get gas from storage in the winter, we’re saving gas (and we need to keep doing it!), LNG terminals are coming and thanks to Belgium, the Netherlands, Norway (and soon France), gas is flowing Klaus Müller tweeted. Further curbs on European gas supplies would deepen an energy crisis that has already seen wholesale gas prices rise 400% since last August, squeezing consumers and businesses and forcing governments to spend billions to ease the burden. read more In Germany, inflation jumped to its highest level in nearly 50 years in August and consumer sentiment is expected to hit a record low for a third month in a row next month as households brace for higher energy bills. read more

DOWN SUPPLIES

Unlike last month’s 10-day maintenance on Nord Stream 1, the latest work was announced less than two weeks earlier and is being carried out by Gazprom, not its operator. Moscow, which cut supply through the pipeline to 40% of capacity in June and 20% in July, blames maintenance issues and sanctions it says are preventing the return and installation of equipment. Gazprom said the latest shutdown was necessary to maintain the pipeline’s only remaining compressor at the Portovaya station in Russia, saying the work would be carried out jointly with Siemens specialists. Siemens Energy ( ENR1n.DE ), which has carried out maintenance work on compressors and turbines at the station in the past, said on Wednesday it was not involved in the maintenance but was ready to inform Gazprom if necessary. read more Russia has also completely stopped supplying Bulgaria, Denmark, Finland, the Netherlands and Poland and reduced flows through other pipelines since it launched what Moscow calls a “special military operation” in Ukraine. read more On Tuesday, Gazprom said it would also suspend gas deliveries to its French contractor over a payment dispute, which France’s energy minister called an excuse, but added that the country had anticipated the loss of supply. read more German Economy Minister Robert Habeck, on a mission to replace Russian gas imports by mid-2024, earlier this month said Nord Stream 1 was “fully operational” and there were no technical issues as claimed by Moscow.

“ELEMENT OF SURPRISE”

Europe’s biggest economy is filling its natural gas storage facilities faster than expected, but it is still not enough to see the country through the winter, he said. Reduced flows through Nord Stream have complicated efforts across Europe to conserve natural gas to cope with the winter months, when governments fear Russia may cut off flows altogether. “It is something of a miracle that gas fill levels in Germany have continued to rise nonetheless,” Commerzbank analysts wrote, noting that the country has so far been able to buy enough at higher prices elsewhere. Meanwhile, some Europeans are voluntarily reducing their energy consumption by limiting the use of electrical appliances and showering at work to save money as companies prepare for possible rationing. read more With storage tanks 83.65% full, Germany is already close to its 85% target set for October 1, but has warned that reaching 95% by November 1 would be a burden unless companies and households drastically reduce consumption. For the European Union as a whole, the current storage level is 80.17%, already above the 80% target set for October 1, when the continent’s heating season begins. Goldman Sachs analysts said their basic assumption was that the latest Nord Stream 1 outage would not be extended. “If it were to happen, there would no longer be an element of surprise and reduced revenue, while low flows and the occasional drop to zero have the potential to keep market volatility and political pressure higher in Europe,” they said. Sign up now for FREE unlimited access to Reuters.comSign up Report by Nina Chestney and Christoph Steitz. Additional reporting by Matthias Inverardi, Bharat Govind Gautam and Eileen Soreng. Editing: Veronica Brown, Carmel Crimmins, Lincoln Feast and Tomasz Janowski Our Standards: The Thomson Reuters Trust Principles. Nina Chestney Thomson Reuters He oversees and coordinates EMEA’s coverage of the energy, natural gas, LNG, coal and coal markets and has 20 years of experience in journalism. He writes about these markets, as well as climate change, climate science, the energy transition and renewable energy and investment.

title: “The Russian Gas Cut Is Tightening The Energy Screws In Europe Klmat” ShowToc: true date: “2022-11-25” author: “Sandra Murgia”

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Shutdown for maintenance on the Nord Stream 1 pipeline No streams to Germany 0100 GMT 31 August – 0100 GMT 3 September European governments fear Moscow may extend the shutdown German regulator: we’re saving gas, we have to keep doing it Siemens Energy: not involved in maintenance work

FRANKFURT/LONDON, Aug 31 (Reuters) – Russia cut gas supplies through Europe’s main supply route on Wednesday, intensifying an economic battle between Moscow and Brussels and raising the prospect of a recession and energy hoarding in some of its richest countries. area. European governments fear Moscow could extend the shutdown in retaliation for Western sanctions imposed after its invasion of Ukraine and have accused Russia of using energy supplies as a “weapon of war.” Moscow denies doing so and has cited technical reasons for the supply cuts. Russia’s state energy giant Gazprom ( GAZP.MM ) said Nord Stream 1, the largest pipeline carrying natural gas to its top customer Germany, will be out of service between 01:00 GMT on Aug. 31 and 01:00 GMT on September 3. read more Sign up now for FREE unlimited access to Reuters.comSign up The operator of the pipeline confirmed that no gas was flowing Wednesday morning. read more The chairman of Germany’s grid regulator said Germany was now better prepared for the outage as its gas storage was almost 85% full and it was securing supplies from other sources. “We can get gas from storage in the winter, we’re saving gas (and we need to keep doing it!), LNG terminals are coming and thanks to Belgium, the Netherlands, Norway (and soon France), gas is flowing Klaus Müller tweeted. Further curbs on European gas supplies would deepen an energy crisis that has already seen wholesale gas prices rise 400% since last August, squeezing consumers and businesses and forcing governments to spend billions to ease the burden. read more In Germany, inflation jumped to its highest level in nearly 50 years in August and consumer sentiment is expected to hit a record low for a third month in a row next month as households brace for higher energy bills. read more

DOWN SUPPLIES

Unlike last month’s 10-day maintenance on Nord Stream 1, the latest work was announced less than two weeks earlier and is being carried out by Gazprom, not its operator. Moscow, which cut supply through the pipeline to 40% of capacity in June and 20% in July, blames maintenance issues and sanctions it says are preventing the return and installation of equipment. Gazprom said the latest shutdown was necessary to maintain the pipeline’s only remaining compressor at the Portovaya station in Russia, saying the work would be carried out jointly with Siemens specialists. Siemens Energy ( ENR1n.DE ), which has carried out maintenance work on compressors and turbines at the station in the past, said on Wednesday it was not involved in the maintenance but was ready to inform Gazprom if necessary. read more Russia has also completely stopped supplying Bulgaria, Denmark, Finland, the Netherlands and Poland and reduced flows through other pipelines since it launched what Moscow calls a “special military operation” in Ukraine. read more On Tuesday, Gazprom said it would also suspend gas deliveries to its French contractor over a payment dispute, which France’s energy minister called an excuse, but added that the country had anticipated the loss of supply. read more German Economy Minister Robert Habeck, on a mission to replace Russian gas imports by mid-2024, earlier this month said Nord Stream 1 was “fully operational” and there were no technical issues as claimed by Moscow.

“ELEMENT OF SURPRISE”

Europe’s biggest economy is filling its natural gas storage facilities faster than expected, but it is still not enough to see the country through the winter, he said. Reduced flows through Nord Stream have complicated efforts across Europe to conserve natural gas to cope with the winter months, when governments fear Russia may cut off flows altogether. “It is something of a miracle that gas fill levels in Germany have continued to rise nonetheless,” Commerzbank analysts wrote, noting that the country has so far been able to buy enough at higher prices elsewhere. Meanwhile, some Europeans are voluntarily reducing their energy consumption by limiting the use of electrical appliances and showering at work to save money as companies prepare for possible rationing. read more With storage tanks 83.65% full, Germany is already close to its 85% target set for October 1, but has warned that reaching 95% by November 1 would be a burden unless companies and households drastically reduce consumption. For the European Union as a whole, the current storage level is 80.17%, already above the 80% target set for October 1, when the continent’s heating season begins. Goldman Sachs analysts said their basic assumption was that the latest Nord Stream 1 outage would not be extended. “If it were to happen, there would no longer be an element of surprise and reduced revenue, while low flows and the occasional drop to zero have the potential to keep market volatility and political pressure higher in Europe,” they said. Sign up now for FREE unlimited access to Reuters.comSign up Report by Nina Chestney and Christoph Steitz. Additional reporting by Matthias Inverardi, Bharat Govind Gautam and Eileen Soreng. Editing: Veronica Brown, Carmel Crimmins, Lincoln Feast and Tomasz Janowski Our Standards: The Thomson Reuters Trust Principles. Nina Chestney Thomson Reuters He oversees and coordinates EMEA’s coverage of the energy, natural gas, LNG, coal and coal markets and has 20 years of experience in journalism. He writes about these markets, as well as climate change, climate science, the energy transition and renewable energy and investment.

title: “The Russian Gas Cut Is Tightening The Energy Screws In Europe Klmat” ShowToc: true date: “2022-10-31” author: “Lois Pickhardt”

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Shutdown for maintenance on the Nord Stream 1 pipeline No streams to Germany 0100 GMT 31 August – 0100 GMT 3 September European governments fear Moscow may extend the shutdown German regulator: we’re saving gas, we have to keep doing it Siemens Energy: not involved in maintenance work

FRANKFURT/LONDON, Aug 31 (Reuters) – Russia cut gas supplies through Europe’s main supply route on Wednesday, intensifying an economic battle between Moscow and Brussels and raising the prospect of a recession and energy hoarding in some of its richest countries. area. European governments fear Moscow could extend the shutdown in retaliation for Western sanctions imposed after its invasion of Ukraine and have accused Russia of using energy supplies as a “weapon of war.” Moscow denies doing so and has cited technical reasons for the supply cuts. Russia’s state energy giant Gazprom ( GAZP.MM ) said Nord Stream 1, the largest pipeline carrying natural gas to its top customer Germany, will be out of service between 01:00 GMT on Aug. 31 and 01:00 GMT on September 3. read more Sign up now for FREE unlimited access to Reuters.comSign up The operator of the pipeline confirmed that no gas was flowing Wednesday morning. read more The chairman of Germany’s grid regulator said Germany was now better prepared for the outage as its gas storage was almost 85% full and it was securing supplies from other sources. “We can get gas from storage in the winter, we’re saving gas (and we need to keep doing it!), LNG terminals are coming and thanks to Belgium, the Netherlands, Norway (and soon France), gas is flowing Klaus Müller tweeted. Further curbs on European gas supplies would deepen an energy crisis that has already seen wholesale gas prices rise 400% since last August, squeezing consumers and businesses and forcing governments to spend billions to ease the burden. read more In Germany, inflation jumped to its highest level in nearly 50 years in August and consumer sentiment is expected to hit a record low for a third month in a row next month as households brace for higher energy bills. read more

DOWN SUPPLIES

Unlike last month’s 10-day maintenance on Nord Stream 1, the latest work was announced less than two weeks earlier and is being carried out by Gazprom, not its operator. Moscow, which cut supply through the pipeline to 40% of capacity in June and 20% in July, blames maintenance issues and sanctions it says are preventing the return and installation of equipment. Gazprom said the latest shutdown was necessary to maintain the pipeline’s only remaining compressor at the Portovaya station in Russia, saying the work would be carried out jointly with Siemens specialists. Siemens Energy ( ENR1n.DE ), which has carried out maintenance work on compressors and turbines at the station in the past, said on Wednesday it was not involved in the maintenance but was ready to inform Gazprom if necessary. read more Russia has also completely stopped supplying Bulgaria, Denmark, Finland, the Netherlands and Poland and reduced flows through other pipelines since it launched what Moscow calls a “special military operation” in Ukraine. read more On Tuesday, Gazprom said it would also suspend gas deliveries to its French contractor over a payment dispute, which France’s energy minister called an excuse, but added that the country had anticipated the loss of supply. read more German Economy Minister Robert Habeck, on a mission to replace Russian gas imports by mid-2024, earlier this month said Nord Stream 1 was “fully operational” and there were no technical issues as claimed by Moscow.

“ELEMENT OF SURPRISE”

Europe’s biggest economy is filling its natural gas storage facilities faster than expected, but it is still not enough to see the country through the winter, he said. Reduced flows through Nord Stream have complicated efforts across Europe to conserve natural gas to cope with the winter months, when governments fear Russia may cut off flows altogether. “It is something of a miracle that gas fill levels in Germany have continued to rise nonetheless,” Commerzbank analysts wrote, noting that the country has so far been able to buy enough at higher prices elsewhere. Meanwhile, some Europeans are voluntarily reducing their energy consumption by limiting the use of electrical appliances and showering at work to save money as companies prepare for possible rationing. read more With storage tanks 83.65% full, Germany is already close to its 85% target set for October 1, but has warned that reaching 95% by November 1 would be a burden unless companies and households drastically reduce consumption. For the European Union as a whole, the current storage level is 80.17%, already above the 80% target set for October 1, when the continent’s heating season begins. Goldman Sachs analysts said their basic assumption was that the latest Nord Stream 1 outage would not be extended. “If it were to happen, there would no longer be an element of surprise and reduced revenue, while low flows and the occasional drop to zero have the potential to keep market volatility and political pressure higher in Europe,” they said. Sign up now for FREE unlimited access to Reuters.comSign up Report by Nina Chestney and Christoph Steitz. Additional reporting by Matthias Inverardi, Bharat Govind Gautam and Eileen Soreng. Editing: Veronica Brown, Carmel Crimmins, Lincoln Feast and Tomasz Janowski Our Standards: The Thomson Reuters Trust Principles. Nina Chestney Thomson Reuters He oversees and coordinates EMEA’s coverage of the energy, natural gas, LNG, coal and coal markets and has 20 years of experience in journalism. He writes about these markets, as well as climate change, climate science, the energy transition and renewable energy and investment.