Gazprom will further slow flows on the Nord Stream 1

Matías Salord FXStreet

Russia’s Gazprom announced on Monday it will slow flows on the Nord Stream 1. The company is halting another turbine in the pipeline to Germany that is currently at 40%. On Wednesday the supply will fall to 33 million cubic meters per day, about half of the current.

European gas prices jumped following the announcement. The DAX turned negative and it was falling by 0.49%.

With Nord Stream 1 flowing at just 20% of capacity from July 27, Germany will NOT have enough natural gas to make it throughout the whole winter **unless big demand reductions are implemented**. Berlin will need to activate stage 3 of its gas emergency program #ONGT #EnergyCrisis
— Javier Blas (@JavierBlas) July 25, 2022

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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