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Thursday, 4 August 2022

Gazprom doesn’t look like it’s about to increase gas flows to Germany

Germany accuses Russia of stalling the return of normal gas flows to the country: The malfunctioning turbine that Russia has blamed for its reduced flows to Germany through its key Nord Stream 1 pipeline has been serviced in Canada and is now stranded in Germany, with German Chancellor Olaf Scholz saying yesterday there was no reason for Moscow to hold up its return. Gazprom has blamed sanctions for the disruption and yesterday said that delivery was “impossible,” raising fears that the company will not increase flows as winter approaches. Reuters and the Financial Times have more.

Gazprom cut gas flows through the Nord Stream 1 pipeline to just 20% of capacity last month, sparking fears of recession for the German economy and an intensifying energy crisis across Europe. Gazprom has blamed technical issues for the cuts but EU officials have claimed that the cuts are politically motivated.

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