News

Temporary Russian gas pipeline shutoff worries Europe

Nord Stream 1 gas pipeline

Russia has temporarily cut supply of gas from the main pipeline to Germany, worrying several EU nations

Russia has ‘temporarily’ shut down gas supplies in Nord Stream 1 gas pipeline – the main supply line to Germany.

It has sparked fears for energy security in several European nations.

The most recent shut down – however – was scheduled in advance and part of ‘routine maintenance’ during the summer – when gas usage is lower.

It is scheduled to last ten days.

But it hasn’t stopped worries over future prolonged outages.

“Our concerns are growing that Russia is clearly using gas supplies as a political weapon to drive up prices, unsettle markets and spread chaos,”

ROBERT HABECK, GERMAN MINISTER FOR ECONOMIC AFFAIRS

German officials have said they don’t know when Gazprom – Russia’s energy company which has a monopoly on exports – will resume deliveries once the scheduled maintenance is scheduled to end.

A reduction in gas supply is also affecting Italy.

The European Commission is planning proposals in July to determine how EU countries would coordinate rationing of industrial energy and which sectors to prioritise if they are faced with fewer and fewer supplies in the future.

Up next
Media accountability and Trump’s political fallout put journalism under scrutiny

Media credibility and changing audience interests are putting journalism under the spotlight.

Read the story →
Ticker Today takes a daily view of the world of news, politics and business.With Ahron YoungWhisky & Suits explores law, property finance and business over fine whisky.With Imran Khan and Chris ChristofiThe Founders Method explores practical lessons and systems for entrepreneursWith Jonathan Byrt and Jesse LeeworthyThe Connector explores property and urban growth across Australia and the UK.With Belinda CoateThe Property Playbook delivers research-led insights for property investors.With Tim Graham and Terry RyderState of Hospitality explores the challenges facing Australia's hospitality.With Jeremy KoadlowBuying Power helps young professionals enter property and build lasting wealth.With Victor and Reshmi KumarThe Airport Economist explores global trade, business and economic outlooks.With Tim HarcourtMedia Movers explores the trends shaping Australia's media and global news.With James ManningBroker Business explores strategies to build, grow and sustain a business.With Rex AfrasiabiMoney Matters explores practical financial strategies to build lasting wealth.With Dr Steven EnticottBeyond Education explores the ideas and technology shaping future learning.With Greg CampitelliTicker Air explores the latest aviation news, travel trends and developments.With Ahron YoungEarly Years Dialogue explores the issues shaping Australia's early learning.With Paul MondoMarkets and Machines explores AI, regulation and trends shaping the markets.With Chris BergSocial Intelligence explores how social media and AI transform our daily lives.With Dr Karen SutherlandThe AI Edge explores how artificial intelligence reshapes the world economy.With Brad Gastwirth

More from Ticker

Watch

More in News

View all →