INSUBCONTINENT EXCLUSIVE:
on Russian energy exports yet European countries are worried about a rise in inflation and even a recession if maintenance on the Russian
not uncommon that the maintenance work would take longer than ten days, but the gas flow to Europe would be halted for at least ten
Europe especially, the region relies on a significant amount of Russian gas, mostly to heat houses, factories, and workplaces during the
outages.In previous years the annual maintenance period on Nord Stream 1 had lasted about ten to twelve days and had finished on time.It is
also quite common that other issues are detected during maintenance on a pipeline or gas infrastructure which would prolong the expected
time it would take to resume gas supplies from Nord Stream 1
Ukraine.The Dutch energy minister Rob Jetten says "If Nord Stream gets cut off, or if Germany loses all its Russian imports, then the effect
will be felt on the whole of north-western Europe,"Last month, the German Economy Minister Robert Habeck said Berlin should take all
possibilities into consideration alleging that Moscow would suspend gas flows through Nord Stream 1 beyond the expected maintenance
period."Based on the pattern we've seen, it would not be very surprising now if some small, technical detail is found and then they could
say 'now we can't turn it on anymore'," he said.The Kremlin spokesperson, Dmitry Peskov, has already hit back against such accusations that
Russia would use its oil and gas exports to put pressure on European governments.He says the maintenance shutdown of Nord Stream 1 was a
energy crisis prompting emergency measures from governments.Those emergency measures mainly include alarmingly high energy bills for
households, motorists, and other consumers
families that pay the costs
Last month, data from the VBW industry association of the state of Bavaria revealed that the German economy would suffer losses of 193
billion euros ($195 billion) in the second half of this year."The abrupt end of Russian gas imports would also have a significant impact on
the workforce in Germany ..
transports 55 billion cubic meters (bcm) a year of gas from Russia to Germany under the Baltic Sea
Maintenance usually starts around July 11 to 21
weekend, Canada said it would return a repaired turbine while the Canadian government also announced the expansion of sanctions against
Russia's energy sector.Germany has welcomed Canada's decision to issue a "time-limited and revocable permit" to allow equipment to be
returned for the Nord Stream 1 pipeline.However, the Ukrainian government said is was "deeply disappointed" and has called on Canada to
in place as soon as possible.Analysts say if Russia wanted a justification to extend the maintenance period, it already has one because the
Critics say third parties would welcome the delay
On Friday, the Kremlin said it would increase gas supplies to Europe if the turbine for the Nord Stream 1 pipeline in Canada was
On top of that, the EU has almost given up, in public at least, from seeking a peaceful solution to the crisis in Ukraine
Neither does there appear to be any strategy towards Ukraine (something similar to the start of the conflict when the EU was pushing for a
peace settlement) apart from slapping sanctions on Russia which are clearly backfiring on European Union members
Long-term inflation expectations have now dropped below two percent as recession fears deepened after warnings about possible disruption in
Russian gas supplies.The EU is suffering a strong economic blow with forecasts for the 27-nation bloc looking very bleak and record
Critics say despite being reluctant to blacklist Russian energy, it has hesitantly done so after heavy pressure from Washington and London.
