Russian President Vladimir Putin on Tuesday said there could be a further reduction in gas supplies to Europe as the Nord Stream 1 pipeline, which forms the single largest link for Russian gas deliveries to the continent, remained closed for annual maintenance.
The pipeline, which runs from Russia to Germany on the bed of the Baltic Sea, has been under intense scrutiny since Moscow launched its invasion of Ukraine on February 24 this year.
While Nord Stream 1 has a daily capacity of about 167 million cubic meters of gas, Russia's state energy giant Gazprom reduced that volume to just 67 million cubic meters per day last month.
In addition, the pipeline is currently closed for annual maintenance, which is set to end on Thursday.
Uncertainty over Nord Stream 1 maintenance
But Putin has warned that if a gas turbine sent to Canada for repairs isn't returned to Russia soon, the daily volume delivered by the pipeline could drop further to 33 million cubic meters by the end of this month.
"There are two functioning machines there, they pump 60 million cubic metres per day. If one is not returned, there will be one, which is 30 million cubic metres. Has Gazprom something to do with that?" Putin said while talking to reporters in Tehran, where the Russian president was for trilateral talks with the heads of Iran and Turkey. He added that another gas pumping turbine is due to be sent for maintenance on July 26.
While the turbine was initially caught in a storm over Western sanctions on Moscow, the Canadian government agreed to hand over the Siemens Energy turbine to Germany upon Berlin's request.
However, Moscow said it has not received the turbine or the documentation yet.
Putin warns against cap on Russian oil prices
The Russian leader also warned that the West's plan to cap the prices of Russian oil would destabilize the global market and make prices soar.
"We are hearing some crazy ideas about restricting the volumes of Russian oil and capping the Russian oil price," Putin said. "The result will be the same — a rise in prices. Prices will skyrocket."
After Moscow's February incursion into Ukrainian territory, the European Union approved bans on Russian coal and most oil, which are set to take effect later this year. The restrictions do not include natural gas.
However, Gazprom reduced gas deliveries via the Nord Stream 1 pipeline by 60% in June. The state-controlled energy corporation cited technical problems to justify the fall, DW reports.
See all the news
Gold is shining in the new geopolitical world
JSC “Rustavi Azot” was sold
We Are Creating An Innovative Co-Working Space In Tbilisi - Sergi Gvarjaladze
The Rich Often Enjoy Tax Break - Deputy Minister
Israel Got Acquainted With The Business Tourism Potential Of Georgia
Kettari Foundation became a partner of DATAFEST this year
Tata Power’s CEO Pays Visit to BMG
Turkiye generates more than $35B tourism income in 1st nine months of 2022
NEQSOL Holding has won defamation case against Communications Commission
Trip.com says China hotel bookings are surpassing pre-pandemic levels
Europe's largest crypto exchange WhiteBIT has partnered with Netflix
Interview with Albert Park, ADB’s Chief Economist - By Elene Kvanchilashvili, Forbes Georgia Executive Editor in Chief
Interview with #EBRD President Odile Renaud-Basso by Giorgi Isakadze, Editor in Chief of Forbes Georgia
Investigation Service detained two persons of the fact of evading a particularly large amount of tax
This year, the VIII international literature festival Odesa will be held in Batumi
Georgian Commercial Banks Boost Business loan portfolio for large enterprises
High blueberry exports from Georgia In July
#ForbesTalks - ინტერვიუ გიორგი ჯახუტაშვილთან / 10.08.2022
#ბარი: საუბრები წარმატებაზე ბარში - გიორგი ქადაგიძე, რევაზ ვაშაკიძე და გიორგი ისაკაძე - VII გადაცემა / 06.08.2022
#BMGDRIVE:„ადამიანები ვისაც ემუშავები მალე იცვლებიან, თანამდებობებს ტოვებენ - ეს პრობლემაა“ - მევლუდ მელაძე