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CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.
The future of Russian gas supplies to Europe dominated the news this week, as Russia’s Gazprom initially told customers that it could no longer guarantee gas supplies to Europe because of “extraordinary” circumstances and would declare force majeure on its contracts, a step rejected by European customers. At the time, shipments had ceased because of a ten-day maintenance halt on the Nord Stream 1 pipeline. As part of the maintenance, Canada sent a turbine for the pipeline to Russia via Germany after repairs had been completed on it, at the direct request of the German government over Ukraine’s objections. Once the repaired turbine was installed, Germany stated there was “no technical justification” for reduced shipments. European governments had feared that Russia would not restore any gas shipments but on Thursday, at the end of the maintenance period, Gazprom restored service to Germany at 40 percent of capacity, the same level of service as in mid-June following an earlier round of Russian gas supply cuts.
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