EU: Gazprom cuts gas through Nord Stream 1 to 20% of capacity

Source: ABC News

“Russia’s Gazprom on Wednesday halved the amount of natural gas flowing through a major pipeline from Russia to Europe to 20% of capacity. It’s the latest reduction to Nord Stream 1 that Russia has blamed on technical problems, but Germany calls a political move to sow uncertainty and push up prices amid the war in Ukraine. The Russian state-controlled energy giant announced Monday that it would carry out the reduction citing equipment repairs, further raising fears that Russia could cut off gas completely to try to gain political leverage over Europe as it tries to bolster its storage levels for winter. … Prices surged to the highest levels since early March for natural gas, which is used to power industry, generate electricity and heat homes in the winter.” (07/27/22)