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RUSSIA - Gazprom tells European customers that gas supply is beyond its control

RUSSIA - Gazprom tells European customers that gas supply is beyond its control
Posted By Iain Fraser - Consultant Geopolitical Editor

Reuters has reported this morning that Gazprom, the Russian energy "supplier" told its customers in Europe it cannot guarantee gas supplies because of "extraordinary" circumstances as it invoked a retrospective force majeure - a provision in a contract that frees both parties from obligation if an extraordinary event directly prevents one or both parties from performing.

Nord Stream 1, the key pipeline delivering Russian gas to Germany and beyond, is undergoing 10 days of annual maintenance, however, Canada delivered the repaired turbine to Germany yesterday [17/07/22]

The news has prompted concerns in Europe that Moscow doesn't intend to restart the pipeline at the end of the maintenance period in retaliation for current sanctions in place by the EU (& Others) against Russia

Meanwhile, in an attempt to mitigate the gas supply problems with the Kremlin the EU has agreed a deal with Azerbaijan to double gas exports by 2027 - the deal is part of a broader push by the EU to find alternative suppliers of energy since Russia's invasion of Ukraine. Learn More /... Click Here to receive our full Analysis direct to your inbox or Smart device

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Image Credit: Vuo/Wikimedia Under CC

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