March 29, 2023

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Exclusively, Russia saw the resumption of gas exports from Nord Stream 1 on schedule

Exclusively, Russia saw the resumption of gas exports from Nord Stream 1 on schedule
  • This content was produced in Russia where coverage of Russian military operations in Ukraine is restricted by law
  • Nord Stream 1 maintenance runs from July 11 to July 21
  • Gazprom cut off gas supplies via a pipeline in June

MOSCOW (Reuters) – Russian gas flows through the Nord Stream 1 pipeline are expected to resume on time on Thursday after the completion of scheduled maintenance, two sources familiar with the matter told Reuters.

The pipeline, which accounts for more than a third of Russian natural gas exports to the European Union, was halted for ten days of annual maintenance on July 11.

The sources, who requested anonymity due to the sensitivity of the matter, told Reuters that the pipeline is expected to resume work on time but at less than its capacity of about 160 million cubic meters per day.

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The energy giant controlled by the Kremlin, Gazprom (GAZP.MM)cut gas exports via the road to 40% last month, citing delays in returning turbines, Siemens Energy. (ENR1n.DE) He was serving in Canada.

“(Gazprom) will return to the levels it was in before July 11,” one of the sources said of the expected gas volumes via Nord Stream 1 starting Thursday.

The Dutch benchmark contract for the month of the nearest maturity fell 3% after the Reuters report flows resumed on Thursday.

Earlier today, the contract rose after the Wall Street Journal reported that the European Commission does not expect to restart the pipeline after maintenance. Read more

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Gazprom and Nord Stream 1 did not respond to requests for comment on Tuesday.

Russia says it is a reliable supplier

Nord Stream 1, which straddles the bottom of the Baltic Sea to Germany, has been in focus since Russia sent troops into Ukraine on February 24 in what Moscow describes as a “special military operation.”

The West accused Russia, the world’s largest gas exporter and second largest supplier of crude oil, of using its energy supplies as a tool of coercion.

Russia has denied the accusations, saying it is a reliable supplier of energy.

But in a July 14 letter, Gazprom said it had retroactively declared force majeure on supplies from June 14, a legal provision that means it cannot guarantee gas delivery due to exceptional circumstances. Read more

On Monday, Kommersant newspaper, citing people familiar with the situation, reported that Canada sent the turbines needed for Nord Stream 1 to Germany by plane on July 17 after completing repair work. Read more

Siemens Energy declined to comment.

On Tuesday, one of the sources told Reuters it was unlikely that the turbine would be reinstalled by July 21.

The German Economy Ministry said on Monday it could not provide details on the location of the turbines.

But a ministry spokesman said the turbine was a replacement part that was only supposed to be used from September, meaning its absence could not be the real reason for the drop in gas flows prior to maintenance.

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Reuters office reports, additional reporting by Christoph Stitz in Frankfurt; Editing by Barbara Lewis

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