Thursday, August 18, 2022
23.4 C
Lagos
More

    Latest Posts

    Russia Govt. shut down gas supply to Germany

    Countries in Europe are likely to experience an increase in their energy bills after Russia opted to cut gas supply to Germany amid a disagreement with Canada over the repair of its turbine.

    Russia had sent its turbine to Germany for repair while the latter sent it to Canada for the same purpose.

    But the Canadian government seized the equipment as a sanction against Russia over its invasion of Ukraine.

    The turbine is meant for Russia’s Nord Stream 1 pipeline which serves Germany via the Baltic Sea.

    Following the seizure of the turbine by Canada, President Vladmir Putin ordered the reduction of gas delivery to Germany.

    At least 55 billion cubic meters of gas is transported from Russia to Germany per year, and shortage of the gas is expected to hit the German economy hard, increasing cost of living for households in the country, and other European countries that depend on Russia’s gas.

    Following discussions between Germany and Canada, the latter decided to send the turbine back to Germany for the continued repair of the Nord Stream 1 pipeline which will take one week.

    The repair work starts on Monday, and with the supply dropping, Russia denied the reduction was a political response to the seizure of the turbine by Canada.

    Russia accounts for 40 percent of gas imported by Europe, giving the country an influence over others in Europe ahead of the winter when the rest of the continent will need gas to keep warm.

    Germany’s head of energy regulator, Klaus Mueller, said the shutdown of gas supply might extend beyond one week due to political reasons, creating more headaches for the European market that is struggling with the high cost of crude oil.

    “We cannot rule out the possibility that gas transport will not be resumed afterward for political reasons,” Mueller said.

    [NationalDaily]

    - Advertisement -

    Latest Posts

    Don't Miss