Russia will further reduce its gas supply to Germany via its main pipeline to Europe, Nord Stream 1. Dark clouds spilled over Europe’s energy reserves for winter.
According to the announcement by Russia’s state-owned natural gas company Gazprom, the transportation utilization rate of the pipeline will be reduced to around 20% from 7:00 am Moscow time (1:00 pm Japan time). He explained that the problem of turbine maintenance and inspection was the background.
Following the announcement of Gazprom, the price of index gas futures in Europe temporarily rose by 12%.
It is unknown how long this operating rate will continue. Europe’s energy crisis, exacerbated by Russia’s invasion of Ukraine and the resulting sanctions against Russia, could have a major impact on the European Union (EU) economy.
(Source: Bloomberg)
Great downside pressure on the EUR. Today is the EUR selling line.
