Gazprom will keep Nord Stream closed after finding oil leak

seekingalpha2022-09-03

Russia's Gazprom (OTCPK:OGZPY) on Friday said it won't reopen a major gas pipeline to Europe as planned because of a new technical problem. The gas turbine at a compressor station near St. Petersburg ...

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The gas turbine at a compressor station near St. Petersburg was found to have an oil leak, Reuters reported.  The Russian energy giant had been set to resume deliveries on Saturday after suspending the Nord Stream pipeline to Germany for three days for maintenance. Gazprom didn't provide any indication for when the repair work will be completed. Before this week's suspension of deliveries, Nord Stream had been working at 20% capacity. The pipeline last year delivered about 35% of Europe's gas imports from Russia, making it a key source of energy for the region. European countries have been scrambling to secure sources of natural gas as winter approaches. European officials have fretted that Gazprom wouldn’t restart deliveries when it shut Nord Stream for unplanned maintenance. They see the shutdown as Russia’s way of retaliating against European countries that support Ukraine in the war. A total shutdown of Nord Stream, which connects Russia to Germany through the Baltic Sea, will push Western Europe to speed up their efforts to reduce their dependence on Russian gas as the weather gets colder. 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