Moscow: Russia has cited technical difficulties and cut down fuel gas supply to Germany – the leading European nation. At the same time, companies in France, Italy and Austria have also claimed that the gas supply from Russia has declined. This cut-down has surfaced as European nations signed fuel gas agreements with the United States, Africa and the Middle East. Russia is expected to cut off fuel supplies to European countries in the near future, and Germany has expressed strong displeasure against it. Against this backdrop, fuel prices in Europe have risen by 60% i.e. $1,500 per 1,000 cubic meters.
Moreover, Russia’s leading fuel company, Gazprom, has recently begun cutting down natural gas supplies to Germany. In a statement, the Russian company said that this decision was taken after a dispute arose over the system sent by the German company, Siemens Energy, for repairs. In the last three days, Russia has reduced its gas supply through the Nord Stream 1 pipeline by as much as 60%.
Furthermore, Russia supplies 16.7 crore cubic meters of fuel gas per day to Germany through the Nord Stream-1 pipeline. On Thursday, the supply fell to just 6.7 crore cubic meters. The German government has said in a statement that Russia’s decision to reduce its gas supply was politically motivated and unacceptable. The issue of maintenance or repairs does not arise before winter, German ministers claim. The German government has also appealed to its citizens to save on electricity consumption.
Simultaneously, the German energy agency has warned Russia of grave consequences in the winter season. The fuel supply won’t seem inadequate during the summer, as it would be the end of ‘Heating Season’. However, the system to store the fuel for the Winter season may collapse, warned Energy agency chief Klaus Muller. So far, Russia had continued its policy to supply fuel gas to Germany, but it cannot be guaranteed in future; Muller expressed this fear.
In addition to Germany, fuel companies in France, Italy and Austria have also claimed that Russian gas supplies have been cut. Therefore, it is being indicated that Russia may cut off natural gas supplies to European countries in the near future. Russia has previously cut off fuel supplies to countries such as Bulgaria, Denmark and Finland. Russia has warned that it could cut down fuel supplies to other countries as well and eventually cease Russian fuel supplies to them. The main reasons for it are the European support for Ukraine and sanctions imposed on Russia.
Meanwhile, Russia cutting down fuel supply to Germany fuel supplies has rocked European fuel markets. Fuel gas prices in Europe hit $1,500 per 1,000 cubic meters on Thursday. Analysts predict further growth in the near future.