Russia set to mothball damaged Nord Stream gas pipelines - Reuters News Agency

Russia set to mothball damaged Nord Stream gas pipelines

Sources have exclusively told Reuters that Russia’s ruptured undersea Nord Stream gas pipelines are set to be sealed up and mothballed as there are no immediate plans to repair or reactivate them. Soaring tensions between Moscow and the West over Russia’s invasion of Ukraine had brought Nord Stream 1 to a standstill and prevented its twin, criticized by Washington and Kyiv for increasing Germany’s dependence on Russia, from ever coming online.

Market Impact

Europe has drastically cut its energy imports from Russia over the past year, while the state-controlled Gazprom’s (GAZP.MM) exports outside the former Soviet Union almost halved in 2022 to reach a post-Soviet low of 101 bcm. Russia is currently exporting only around 40 million cubic meters per day of pipeline gas to Europe, via Sudzha on the border between Ukraine and Slovakia. 

Article Tags
Topics of Interest: Energy
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe
Countries: Russia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
Eikon_3.9.23_russia nord stream
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