Russian gas deliveries to Europe decline to less than 20% of capacity

Russian gas deliveries to Europe decline to less than 20% of capacity

The Russian gas deliveries via the Nord Stream pipeline fell to 20% of its capacity and reached 1.3 million cubic meters per hour from 07:00 GMT a.m. on Wednesday, its operator Nord Stream AG said.

The decrease in deliveries is explained by the withdrawal of another Siemens turbine.

Earlier in the day, the data of the German gas transmission operator Gascade showed that deliveries decreased to 1.28 million cubic meters per hour.

The reduction in gas deliveries occurred from 07:00-08:00 GMT. During this period, 1.3 million cubic meters were delivered via Nord Stream, which is two times lower compared to Tuesday. The daily gas deliveries dropped to 31 million cubic meters, or a little more than 18% of the pipeline's capacity, according to the operator.

The price of gas in Europe during trading rose above $2,300 per 1,000 cubic meters for the first time since March 8 on Wednesday amid a reduction in pumping through the Nord Stream, according to the data of London’s ICE.

The price of August futures at the TTF hub in the Netherlands rose to $2,307 per 1,000 cubic meters or 220 euro per MWh.

On Monday, Russian gas giant Gazprom announced the suspension of operation of another Siemens gas turbine engine at the Portovaya compressor station. This is related to routine maintenance in accordance with the instructions of Russian Federal Environmental, Industrial and Nuclear Supervision Service and taking into account the technical condition of the engine. The Portovaya's daily capacity will now be up to 33 million cubic meters.

On July 11, Nord Stream 1 was shut down for routine maintenance for 10 days.