(Finance) – After a volatile day in which prices rose over 180 euros, gas prices in Europe closed down 7.7% at 169 euros / MWh. The market looks to Germany’s optimism, according to Bloomberg reports, for the rumors about the expected arrival from Canada of the turbine that will be used for maintenance work on the Nord Stream 1 gas pipeline which will start on Monday and – according to what is learned – should result in a 10-day stop. Nothing is yet certain but a confirmation of the green light for the delivery of the turbines came today from the spokesman for the German government according to which Berlin would have received reassurances from Canada. This was enough to send a positive signal to investors that immediately brought down the price of gas.
The new turbine – as Kremlin spokesman Dmitry Pescov said – “will allow for an increase in gas flows to Europe”.
The Russian last month Gazprom had reduced the capacity along the Nord Stream 1 pipeline to only 40% of the usual levels, speaking of a delay in the return of the equipment under maintenance by the German Siemens Energy, in Canada. According to Moscow, in fact, the turbine is essential for the supply of natural gas to Germany.
The location of Kiev. Yesterday a Reuters report revealed that Ukraine opposes Canada’s delivery of the turbine to Russian Gazprom. Ukraine – according to statements provided by a source from the Ukrainian energy ministry to Reuters – would have opposed the move and its energy minister would have pressured Canada in June not to deliver the necessary turbine to the German Siemens Energy. “The sanctions prohibit the transfer of any gas-related equipment – said the source of the Ministry of Energy -. If, God forbid, this decision is approved, we will undoubtedly appeal to our European colleagues so that their approach must be reassessed. Because if countries do not follow the decisions they have agreed on sanctions, how can we talk about solidarity? “.
For circumvent the export ban on parts imposed on Canada by sanctions Siemens could authorize a triangulation with a country that does not adopt sanctions or demonstrate that the turbine serves Germany and not Russia. But to date it is not known which path will be followed and if the turbine will actually arrive.
The transit of Russian gas through Ukraine it dropped to 334 million cubic meters a day in June, the lowest level in history. Today theUkrainian pipeline operator Octsou denounced Moscow’s “gas blackmail” and criticized the Russian group Gazprom “for having exploited only one seventh of the capacity of Ukrainian gas pipelines, and for not even using the reserved quotas paid under the contract with Ogtsou” . However – underlines the Ukrainian operator – “alternative routes” would allow much greater volumes to be sent to Western Europe and to completely replace the transit of the Nord Stream 1 gas pipeline.
Meanwhile Russian President Vladimir Putin has returned to threaten the West. “We know that Europeans are trying to replace Russian energy resources – Putin said – however we expect that the result of these actions will be the increase in gas prices on the market and an increase in the cost of energy for consumers. proves once again that sanctions on Russia cause far more damage to the countries that impose them. Further use of sanctions could lead to even more severe, without exaggeration, even catastrophic consequences for the global energy market. “