Nord Stream 1 pipeline to shut for three days, increasing pressure on Europe

The unscheduled maintenance order on the Nord Stream 1 pipeline, which runs under the Baltic Sea to Germany, deepens an energy standoff between Moscow and Brussels which has already helped send inflation surging in the region and raised the risk of rationing and recession.

Gazprom said the three-day shutdown was because the pipeline’s only remaining gas compressor requires maintenance, yet the move will bring further disruption particularly for Germany, which depends largely on deliveries from Moscow to power its industry.
The latest shut-down follows a 10-day scheduled annual maintenance that took place in July, and raised fears over whether Russia would resume supplies, which have been reduced since mid-June.
Germany has already had to give Uniper — its largest importer of Russian gas and the highest-profile corporate victim of Europe’s energy crisis so far — a 15 billion euro ($15.1 billion) bailout after Russia drastically cut flows, forcing it to buy gas elsewhere at much higher prices.

The broader Germany economic impact was highlighted in producer price data on Friday which in July saw their highest ever increases, both year-on-year and month-on-month, as energy costs skyrocket.

German dependence

The Nord Stream pipeline had already been running at just a fifth of its capacity, stoking fears that Russia could halt flows completely heading into the winter heating season and make it more difficult to fill up storage facilities.

Germany has made targeted efforts to fill…

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