Nord Stream Says Damage to Gas Pipeline to Germany Unprecedented


Article content

(Bloomberg) — Nord Stream said the damage to its key pipeline to Germany is “unprecedented” and it’s impossible to say when flows could resume.

Article content

It’s the clearest signal yet that Nord Stream flows won’t resume this winter, after European Union leaders have repeatedly accused Moscow of weaponizing energy. Germany is probing the incidents in the Baltic Sea on the two idled Nord Stream gas pipelines from Russia, while Denmark steps up security on its energy installations.

Article content

“The destruction that happened within one day at three lines of the Nord Stream pipeline system is unprecedented,” the operator of Nord Stream said Tuesday. “It’s impossible now to estimate the timeframe for restoring operations of the gas shipment infrastructure.”

The almost simultaneous pressure drop at the two lines of Nord Stream and one line of Nord Stream 2 can’t impact gas supplies to Europe as the pipelines are idled amid Moscow’s invasion of Ukraine. However, markets will be watching for any indications of sabotage. 

Denmark’s energy and climate ministry has registered gas leaks from both the Nord Stream 1 and the Nord Stream 2 pipelines in the country’s and Sweden’s exclusive economic zones in the Baltic Sea. The nation is strengthening security, it said. 

Benchmark European gas prices climbed as much as 6.4% on Tuesday, after four days of losses.



Source link

Comments are closed.