Gas, Russia reduces 40% supplies via Nord Stream: Berlin injects 9 billion to save Gazprom Germany
There Russia reduced by 40% le gas supplies Street Nord Stream. He makes it known Gazprom. There ability to supply gas to Europe through the pipeline to Germany has been limited to 100 million cubic meters (mcm) per day due to the delay in repair work.
The pipeline, which runs from Russia to Germany and passes under the Baltic Sea, usually carries 167 million cubic meters, he said. Gazprom in a statement on the company’s Telegram channel. The cause of the reduction in capacity is to be attributed to Siemens which delayed equipment repairs, the Russian company said.
Europe, Gas closes at 97 euros for Gazprom-Nord Stream. In Amsterdam I jumped 16%
European gas ended the day with a sharp rise at 97 euros (+ 16.3%) per megawatt hour after exceeding 100 euros during the day in Amsterdam.
Ukraine: media, from Berlin government 9-10 billion euros to Gazprom Germany
The German government plans to inject several billion euros into Gazprom Germany to prevent the company from going bankrupt and to guarantee the country’s gas supply. The bailout will amount to around 9-10 billion euros according to sources cited by the Dpa. Gazprom Germany is no longer part of Gazprom after the Russian state-owned company split from the German branch on April 1.
Subsequently, the Berlin government took control of the then German subsidiary of the Russian state company Gazprom through the Federal Network Agency, who became its trustee. In mid-May, Russia imposed sanctions on Gazprom Germany and almost all of its branches, causing one “financial imbalance“in the company, according to the German government, who recalled how Gazprom Germany is a key company for the gas supply in Germany and said he wanted to avoid “a threat to energy security”.
The loss of gas supplies because of the Russian sanctions and the consequent need to purchase substitutes at market prices, which are currently very high, had worsened the financial situation of Gazprom Germany to the point that the German government had to guarantee its liquidity with a loan from the public bank KfW (Kreditanstalt fuer Wiederaufbau), the Credit Institute for Reconstruction.
The decision to support Gazprom Germany with a rescue came after the announcement of the Russian Gazprom of the reduction in volumes of natural gas transported through the pipeline Nord Stream 1 in the Baltic Sea. The Nord Stream 1 it is the main pipeline used to transport Russian gas to Germany.
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