Monday, July 25, 2022

European Gas Prices jump 10% plus as Gazprom to curb Nord Stream Flows

European natural gas prices jumped more than 10% on Wednesday after Gazprom PJSC said it will halt another turbine and reduce flows through the Nord Stream pipeline.

The key pipeline will pump 33 million cubic meters a day, or just 20% of its capacity, from Wednesday as another turbine is halted for maintenance, Gazprom said in a statement. The move poses further risks to Europe’s gas supply ahead of winter.

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