(Finance) – The Russian energy giant Gazprom has announced a reduction of more than 40% of its daily gas delivery capacity to Germany via the pipeline Nord Stream 1, “As the necessary equipment was not delivered by the German Siemens group”. According to what Bloomberg reported citing a communication from the company, Gazprom can enter the Nord Stream pipeline “only 100 million cubic meters per day“.
Meanwhile, the price of the gas in Europe it recorded a sharp rise. To Amsterdam at the end of the day the price reached i 97 euros (+ 16.3%) per megawatt hour after exceeding 100 euros., While in London the price stood at 170 pennies per Mmbtu (+ 10.60%).
“We observe the situation and check the state of things. At the moment the safety of the supplies it continues to be guaranteed, ”said a spokeswoman for the German Ministry of Economy. To ensure the security of the gas supply in the country and avoid the bankruptcy of the company, the government of Berlin has announced its intention to grant Gazprom Germany a loan of theLending institution for reconstruction (Kfw), the German state bank. According to what reported by Reuters, the loan will be between 9 and 10 billion euros. Gazprom Germany has been under trusteeship since April, after Russia’s Gazprom pulled out of the ownership of its German subsidiary. The trustee status will be extended until September 2022.
A spokesperson for Siemens Energy confirmed to the German agency Dpa that it had overhauled a gas turbine on Nord Strem 1, stating that “due to the sanctions imposed by Canada this cannot be returned to the customer. “I am of the situation
both the German and Canadian governments were informed, he added, stressing that “a sustainable solution is being worked on”.