{"id":63137,"date":"2022-07-26T09:19:32","date_gmt":"2022-07-26T14:19:32","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63137"},"modified":"2022-07-26T09:19:32","modified_gmt":"2022-07-26T14:19:32","slug":"eu-natural-gas-prices-soar-as-gazprom-readies-nord-stream-cuts-us-natgas-hits-14-year-high","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63137","title":{"rendered":"EU Natural Gas Prices Soar As Gazprom Readies Nord Stream Cuts, US NatGas Hits 14-Year High"},"content":{"rendered":"
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EU Natural Gas Prices Soar As Gazprom Readies Nord Stream Cuts, US NatGas Hits 14-Year High<\/a><\/h3>\n<\/header>\n
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European natural gas futures extended gains by 12% after Russian state-owned energy producer Gazprom PJSC\u00a0unexpectedly<\/a>\u00a0announced it would halt a Nord Stream 1 turbine at its Portovaya compressor station from Wednesday. Simultaneously, US NatGas futures have spiked to 14-year highs.<\/p>\n

Russian NatGas supplies to Europe via Nord Stream pipeline fell to 38% capacity from 40% on Tuesday, ahead of a more significant cut from current levels to just 20% on Wednesday.<\/p>\n

In a statement, Gazprom said the Nord Stream pipeline would be pumping 33 million cubic meters a day, or 20% of capacity, from Wednesday, adding another turbine for the pipeline will be taken offline due to maintenance work.<\/p>\n

Kremlin spokesman Dmitry Peskov said another Nord Stream turbine has “problems” and will be taken offline for maintenance.<\/p>\n

Peskov noted a turbine sent to Canada earlier is “en route” but didn’t specify its exact location.<\/p>\n

Western sanctions prolonged the average maintenance time of the Nord Stream.<\/p>\n

“The situation is critically aggravated by the restrictions and sanctions imposed against our country,”\u00a0<\/strong><\/em>the Kremlin spokesman continued.<\/p><\/blockquote>\n

Russian state media reported Monday that the turbine recently serviced in Canada by Siemens Energy AG had finally received\u00a0export paperwork<\/a>\u00a0that will allow it to be shipped from Germany to Helsinki, Finland.<\/p>\n

Nord Stream’s upcoming capacity declines sent Wholesale European NatGas futures up 12% to 196 euros. Prices have jumped more than 20% in two sessions and are near highs seen last winter at more than 200 euros.<\/p>\n

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EU Natgas prices are trading at an oil-barrel-equivalent price of $333….<\/p>\n

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Across the Atlantic, US NatGas futures extended gains, up more than 10% to $9.62, a 14-year high, amid concerns about hot weather and tight supplies.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

EU Natural Gas Prices Soar As Gazprom Readies Nord Stream Cuts, US NatGas Hits 14-Year High European natural gas futures extended gains by 12% after Russian state-owned energy producer Gazprom PJSC\u00a0unexpectedly\u00a0announced it would halt a Nord Stream 1 turbine at its Portovaya compressor station from Wednesday. Simultaneously, US NatGas futures have spiked to 14-year highs. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[281,352,554,17653,7837,694,4318],"class_list":["post-63137","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-europe","tag-gazprom","tag-natural-gas","tag-natural-gas-price","tag-nord-stream","tag-russia","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63137"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63137\/revisions"}],"predecessor-version":[{"id":63138,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63137\/revisions\/63138"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}