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Russia Again Halts Natural Gas Flows To Europe

Russian state-owned energy company Gazprom has once again stopped gas flows to Europe
via the Nord Stream 1 pipeline, citing “maintenance work.”

Gas flows via the Nord Stream 1 pipeline that runs from Russia to Germany are expected to be
suspended until September 3, according to a written statement from Gazprom.

The Russian energy giant said that natural gas transmission to Germany would resume at a rate
of 33 million cubic meters per day once the maintenance work is completed, and “provided that
no malfunctions are identified.”

The temporary halt to supplies reflects a deepening energy battle between Russia and the
European Union, and has raised concerns about a shortage of natural gas supplies to the
continent this winter.

Russia has significantly reduced gas supplies to Europe over the summer, with flows via the
Nord Stream 1 pipeline operating at just 20% of the agreed to volume. Officials in Moscow have
repeatedly blamed faulty equipment for the decline in natural gas supplies.

Germany, however, views the natural gas cut to be a political move designed to punish Europe
for economic sanctions imposed on Russia following that country’s invasion of Ukraine.

European nations are scrambling to store natural gas supplies in underground facilities so as to
have enough fuel to keep homes and businesses warm during the cold winter months.

The latest data compiled by Gas Infrastructure Europe shows that the European Union’s overall
storage levels are 80% full, while Germany’s underground storage is nearly 84% full.

Europe relies on Russia for more than half of its natural gas and fears are rising that Moscow
will turn off the taps completely as the colder weather arrives.