/Europe Fears Energy Crisis As Russia Shuts Off Key Gas Pipeline

Europe Fears Energy Crisis As Russia Shuts Off Key Gas Pipeline

According to several sources, Europe is concerned that the Kremlin would extend this week’s scheduled suspension of a crucial Russian natural gas pipeline indefinitely in an effort to increase pressure on Western countries during the war in Ukraine.

The Nord Stream 1 pipeline, a vital conduit for natural gas supplies from Russia to Europe, was shut down for normal maintenance, according to operator Nord Stream AG, which announced the closure on Monday. The yearly closure is anticipated to end on July 21 and generally lasts around 10 days.

However, escalating hostilities between Russia and its Western allies have raised worries that Russian President Vladimir Putin would halt natural gas exports for a far longer amount of time in reaction to punishing economic penalties, which could plunge Europe into a serious energy crisis.

Germany and other European countries continue to rely substantially on Russian oil and gas, which has undermined a campaign to stop buying from Russian suppliers in reaction to the invasion that was supported by the Ukrainian government and certain EU members.

Approximately 55 billion cubic meters of natural gas are delivered to Europe annually through the Nord Stream 1 pipeline. Last month, Russia already reduced the supply of natural gas to 40% of its potential, blaming the delayed return of a crucial piece of equipment that was in Canada getting repair work done.

German Economy Minister Robert Habeck issued a warning that if Russia turns off the pipeline, the nation might experience a terrible situation. For almost a third of its natural gas requirements, the nation still depends on Russia.

Dmitry Peskov, a spokesman for the Kremlin, said that the government was not fabricating any repairs and that the maintenance planned for this month is standard.

Germany issued a warning last month, even before the closure, that its inhabitants would experience gas rationing this winter as a result of the developing energy crisis in the area.

You Might Like