Germany's vice-chancellor Robert Habeck warned that Russia’s moves to slash Europe’s natural gas supplies risked rolling blackouts at the country's energy utilities.
According to Habeck, the government will continue to reduce gas flows in the near future. Previously, gas supply volumes through Nord Stream were reduced by 60%. The politician believes the country should prepare for further disruptions in LNG supplies.
The vice-chancellor of Germany stressed that gas shortages would most likely lead to serious electricity supply problems and a deep recession. What is more, electricity suppliers may boost prices, regardless of their contractual obligations. However, the German authorities are not going to take such extreme measures at the moment because it would certainly lead to an immediate price hike for consumers. Currently, the Nord Stream pipeline is majority-owned by Russian gas. In June, Gazprom's management announced that it would only use three gas compressor units (GCUs) due to a delay by Germany's Siemens. It was later reported that the operation of the Siemens gas turbine was suspended.
Gazprom said that gas supply to the Nord Stream pipeline was at 67 million cubic meters per day, instead of the planned 167 million cubic meters. Nord Stream AG will shut down both strings of the gas pipeline from July 11 to 21 for scheduled repairs.
