Russia cut the capacity of its Nord Stream 1 natural gas pipeline to just 20% last month.Sean Gallup/Getty Images Russia has stoked up Europe's energy crisis by cutting the capacity of the Nord Stream 1 pipeline to 20% But the continent also receives gas supplies from Azerbaijan, North Africa, and the North Sea. Many countries also import gas by ship, with it traveling through liquefied natural gas ports. Russia is choking off Europe's natural gas supply in a bid to hit back against western sanctions.It cut the capacity of the Nord Stream 1 pipeline to Germany to just 20% last month, contributing to the continent's energy crisis.Key gas benchmarks have soared since the start of June, with TTF Dutch natural gas futures surging 129% to 194 euros ($198) per-megawatt-hour."European gas prices are soaring again, approaching record highs, as a result of Nord Stream 1 flows falling to just 20% of capacity due to ongoing maintenance," Rystad energy analyst Karolina Siemieniuk said in a recent research note.
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gglover@insider.com (George Glover), Business Insider
Sun, 08/07/2022 - 1:00am
Topics: ;window.addeventlistener( ,(function(e){if(void 0!==e.data[ sean gallup/getty images north africa ttf dutch rystad karolina siemieniuk if russian but nord stream gigawatt european network transmission system operators gas key gazela czech republic yamal-europe western siberia european union trans-anatolian trans adriatic azerbaijan's shah deniz greece turkey uk belgium france ireland forties lastly spain algerian r'mel business insider nord stream russia europe azerbaijan africa north sea germany us russian european eu italy supply natural gas pipeline capacity energy ship import prices runs northern continent countries cut fields including liquefied flows
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