Gazprom finds a new fault, Nord Stream stands still – Economy

Gazprom finds a new fault, Nord Stream stands still – Economy
Gazprom finds a new fault, Nord Stream stands still – Economy
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Gazprom has identified some oil leaks during the ongoing maintenance work at the Portovaya compressor station. “The failures and damage identified – explains Gazprom on its Telegram channel – do not allow safe and trouble-free operation of the turbine engine”. For this reason “gas transportation” was “completely stopped”.

The price of gas collapses with speculation that after the recent increases is betting on the recovery from tomorrow, as expected, of Russian supplies through the Nord Stream, after a three-day stop for maintenance. The Ttf contract in Amsterdam, which serves as a reference for methane in Europe, closed with a sharp decline. FTF futures ended trading with a splash of 11.66% a 214.67 EUR.

BATTLE AND RESPONSE BETWEEN THE EU AND MOSCOW – “I am firmly convinced that it is time for a ceiling on the price of gas from Russian gas pipelines to Europe “, said the president of the EU commission, Ursula von der Leyen. “If hostile countries put a price cap on Russian energy resources, Moscow will only supply oil to countries that adjust to market conditions,” said Kremlin spokesman Dmitry Peskov, quoted by TASS.

The reliability of the Nord Stream pipeline, which carries Russian gas to Europe, is under threat due to the lack of technological equipment, Kremlin spokesman Dmitry Peskov said, quoted by Tass. “There are no technological reserves, only one turbine is in operation, so you do the math,” the spokesperson said.

Russian gas “will no longer exist” in Europe if the EU imposes a price capsaid the deputy head of the Russian Security Council Dmitry Medvedev, as reported by Tass. Commenting on the request of the head of the European Commission. Medvedev warned: “It will be like oil. There will simply be no more Russian gas in Europe.”

THE G7 OF EU FINANCE MINISTERS – G7 finance ministers have the plan was approved which envisages setting a ceiling on the price of oil originating from Russia. The Bloomberg agency reports. “On the top of the price of oil, we want to build a broad coalition, beyond the G7, we want to convince all EU countries and beyond”. This was stated by the German finance minister, Christian Lindner. The important thing is that “good results are achieved quickly. The G7 want the price of oil to be capped.” We confirm our common political intention to finalize and implement a global ban on services that allow the shipping of Russian oil and petroleum products globally. “, explain the ministers in a statement.” The provision of these services will be allowed only if the oil is purchased at or below this price (“price cap”) determined by a broad coalition of countries that adhere to the the ceiling and implement it “, the statement continues. The intention of the ministers is to implement the ceiling in line with the timing of the EU sanctions on Russian oil which start on December 5. For the moment, the ministers do not set the boundaries of the ceiling, which will set by the entire coalition that will apply it, on the basis of technical inputs. “The price will be publicly communicated in a clear and transparent way”, conclude the ministers.

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MEASUREMENTS IN ITALY – It will be worth “one or two billion” the planned intervention next week by the government to “allow immediate energy and gas at a controlled price”. This was announced by the Minister of Tourism, Massimo Garavaglia. It is a “buffer intervention” which “is no small thing”. “The main lines of Minister Cingolani”, Garvaglia explained, envisage “two decrees that go in favor of energy-eaters and gasivores”. “As early as next week, the Government will implement measures that will lower the costs of the energy bill, the goal is to recover purchasing power. Italy has been asking for a ceiling on the price of gas for months, not everyone agreed. EU but things are changing “. So the Minister of Health Roberto Speranza.

THE POLITICAL DEBATE – “At this moment Italy has two priority emergencies to resolve. Immediate interventions are needed to block the increases in electricity and gas, but also the stop to the sending of tax bills from the Revenue Agency”. So the leader of the league, Matteo Salvini. “I don’t want to win the elections with a country on its knees and a million more unemployed. There is a government still in office, proceed. As did France, which allocated 30 billion immediately,” Salvini said.

“There are entrepreneurs who are deciding whether to close or whether to go into debt to close at the end of the year and this is not possible”. Thus the Foreign Minister and leader of Civic Engagement, Luigi Di Maio on the sidelines of the Ambrosetti Forum. It is a “moment of great suffering for our Italian companies, from the smallest business to the largest manufacturing company – adds the minister – everyone is suffering from the price of energy that derives from Putin’s blackmail to Europe, from the game he plays in reduce the quantities of gas which then allow strong speculation at the Ttf in Amsterdam “. As for the hypothesis of an energy rationing, Di Maio replies that “the only rationing I want to do at the moment is on the bills of Italian companies. Paying Italian bills for 80%, otherwise companies, rationing or no, they won’t be able to face autumn, not even winter “.

The article is in Italian

Tags: Gazprom finds fault Nord Stream stands Economy

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