Business News Asia
Russia resumes gas deliveries to Europe via the Nord Stream 1 pipeline after 10 days of maintenance.
A spokesman for Nord Stream said that Russia resumed gas deliveries to Germany today (July 21), but will have to wait some time before it can deliver the amount of gas needed by customers.
The return of Russian gas supplies has helped ease the energy situation in Europe somewhat. Europe is rushing to build up fuel stocks ahead of the winter, when energy demand is higher than usual. Supplies through the Nord Stream 1 pipeline are back to 40% of capacity, the same level as before maintenance.
Russia has been controlling gas exports to Europe for months. But Europe is still dependent on Russian gas because it does not have enough gas to have heat and light all winter. Without Russian gas, it risks massive economic damage.
Earlier, Russian President Vladimir Putin indicated that gas exports are likely to drop to 20% next week. Russia currently has only two gas turbines at the gas boosting plant, as one gas turbine had to be sent for repair this month. Unless spare parts from Canada arrive in Russia soon, the delivery of said parts will be delayed.