Gazprom will suspend gas supplies to Europe through the Nord Stream pipeline for three days. A maintenance is required from August 31 to September 2, it sounds. The price for natural gas reached a new record high after this news.
According to the company, this concerns a planned maintenance of a gas turbine at the compressor station in Portovaja. Specialists from the German company Siemens will participate. Nord Stream runs under the Baltic Sea from Russia to Germany.
Gazprom previously reduced the supply of gas to Germany via the pipeline under the Baltic Sea to a fifth of normal levels. This happened after planned maintenance, which meant that the pipeline was closed for more than a week.
20 percent of capacity
Now Gazprom says it will resume gas supply to 33 million cubic meters of gas per day after the works. That is about 20 percent of the capacity. The pipeline can actually handle about 167 million cubic meters per day. “The condition is that there are no technical problems.”
After this news, the leading Dutch TTF future for gas closed at 257.40 euros for a megawatt hour, which is a new record. The previous record was only set on Thursday. Back then, a megawatt hour of gas cost 241 euros. On March 7, the gas price peaked at 345 euros per megawatt hour during trading, but dropped to 227 euros at the close that same day.
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