Home Business Natural gas rises again, Nord Stream notes “unprecedented” damage to the pipeline

Natural gas rises again, Nord Stream notes “unprecedented” damage to the pipeline

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Euphoric day for the Dutch TTF gas, the European benchmark, which rises by more than 9% to 190 eur / mwh, after hitting an intraday peak of 194 eur / mwh.

European authorities are investigating “unprecedented” damage to the Nord Stream gas pipeline system that transports Russian gas to the Old Continent. For its part, Nord Stream said it was impossible to predict when supplies will resume.

More specifically, Germany is investigating three simultaneous gas leaks into the Baltic Sea from damaged Nord Stream pipelines. “We are also investigating this incident, together with the authorities concerned and the Federal Network Agency,” the German Ministry of Economy said yesterday.

The losses were so great they were seen on nearby ships’ radars, the Swedish coast guard said. The Danish maritime authority also advised ships to avoid areas south and south-east of Bornholm Island after detecting several gas leaks near the pipelines.

According to some analysts, the Kremlin is likely to keep gas flows to Europe at minimal levels as long as the standoff in Ukraine continues, increasing pressure on the European Union for its stance against the invasion of Russia.

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