Russia reduces gas supply to Europe due to Canadian sanctions

Natural gas deliveries from Russia to Europe are expected to fall by around 40% this year, Russian state energy company Gazprom said on Tuesday, after Canadian sanctions over the Ukraine war prevented German partner Siemens Energy from delivering equipment. reviewed.

Siemens Energy said a gas turbine powering a compressor station on the pipeline has been in service for more than 10 years and has been flown to Montreal for a scheduled overhaul. But because of sanctions imposed by Canada, the company was unable to return the equipment to its customer, Gazprom.

“Currently, gas supply for the Nord Stream pipeline can be supplied in the amount of up to 100 million cubic meters per day (compared to) the planned volume of 167 million cubic meters per day,” Gazprom said in a statement. The company did not provide a timetable for the expected drop in gas flows.

“In this scenario, we have informed the Canadian and German government and we are working on a sustainable solution,” Siemens Energy said in a statement.

Germany’s service network agency said, however, that it does not view gas supplies as threatened and that the reduced flows through the Nord Stream 1 pipeline under the Baltic Sea are in line with commercial behavior and the previously announced gas cut. by Russia to Denmark and the Netherlands, the German news agency DPA reported.

Still, also on Tuesday, the German government said it was making an emergency loan to a former subsidiary of Gazprom to avoid bankruptcy and safeguard the country’s gas supplies. The government said the loan would “avoid bankruptcy and a ripple effect on the market.” “The money will serve to reinforce liquidity and acquire replacement gas,” he said in a statement.

The government added that Gazprom Germany would also be renamed Securing Energy for Europe GmbH, or SEFE, as a clear signal to the market that the aim of the measures taken is to secure energy supplies in Germany and Europe.”

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