“It is very convenient to bring in a company that is well known in Russia,” said Joe Kaeser, chairman of the supervisory board of Siemens Energy, the “Sddeutsche Zeitung”. “Even if it were, it would never justify throttling the gas flow so much.”
Chancellor Olaf Scholz (SPD) had already criticized the Russian justification as being pretentious. In the middle of the month, Russia’s state energy giant GAZPROM further reduced gas supplies through the Nord Stream 1 Baltic Sea pipeline. The gas supplier justified the step with delays in repair work. A ten-day routine maintenance of the pipeline will also begin on July 11. Energy supplier and Economics Minister Robert Habeck (Greens) are concerned that GAZPROM Nord Stream 1 will not be able to restart afterwards.
Kaeser praised Scholz’s crisis management in the newspaper: “Mr. Scholz may not be the greatest storyteller, as they say so beautifully these days. But the chancellor is objective, level-headed and tries to de-escalate, that’s a gift nowadays.”
The Siemens Energy share ultimately fell via XETRA by 6.29 percent to EUR 14.61.
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Image sources: Siemens Energy AG