Europe prices surging after Gazprom’s questions about turbine return

Business & Economy July 25, 2022, 16:06

It is noted that Gazprom has received documents from Siemens on return of the Nord Stream turbine from Canada, but they still do not mitigate earlier identified risks

MOSCOW, July 25. /TASS/. Gas prices in Europe gained more than 2% amid questions and risks stated by Gazprom in respect of the Nord Stream pipeline turbine return, according to ICE data.

August futures on the TTF humb in the Netherlands increased to $1,800 per 1,000 cubic meters or 170 euro per MWh, more than 6% in total from the day start,

Gazprom has received documents from Siemens on return of the Nord Stream turbine from Canada, but they still do not mitigate earlier identified risks, the Russian gas holding said earlier.

The gas pipeline is operating at 40% (67 mln cubic meters per day) from the maximal capacity due to untimely return of gas turbine by Siemens after repair because of Canada’s sanctions against Russia.

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