Two out of five! Russia's continuous cuts in Nord Stream pipeline gas volumes, European gas prices soar more than 20%

By    16 Jun,2022

Gazprom informed on Wednesday local time that the volume of gas deliveries to European countries via the Nord Stream pipeline will be reduced to 67 million cubic meters per day and night since Thursday, 16, due to the stoppage of a compressor at the Poltovaya compressor station in the Leningrad region. More than 67 million cubic meters.


Gazprom said in a statement that the drop in gas deliveries was due to technical requirements and maintenance needs. European natural gas futures surged more than 20% again after the news; U.S. natural gas futures rose about 5%.

European gas closed up more than 16% yesterday, as Gazprom had already released information on Tuesday that gas deliveries through the Nord Stream pipeline would probably only be guaranteed at a level of about 100 million cubic meters per day and night, down nearly 40% from the planned 167 million cubic meters per day and night.

Gazprom noted that the main reason for the drop in gas delivery is that the German company Siemens did not deliver the repaired gas pumping units back to Russia in time, resulting in the fact that only three gas pumping units are currently operational at the Podovaya gas compression station.

In response to Russia's successive cuts in gas deliveries, German Energy Minister Robert Habeck slammed the Russian justification for cutting gas flows from the pipeline as an excuse, a strategy to spread uncertainty and raise prices; despite higher prices, we can get the necessary amount of gas supplies from the market. The government will step in when necessary, gas supplies are secured and the government is closely monitoring the situation.