https://sputnikglobe.com/20220928/nord-stream-breakdown-may-add-to-europes-deep-economic-recession---us-media-1101300742.html
Nord Stream Breakdown May Add to Europe’s ‘Deep’ Economic Recession - US Media
Nord Stream Breakdown May Add to Europe’s ‘Deep’ Economic Recession - US Media
Sputnik International
On Tuesday, Operator Nord Stream AG admitted that the recent gas leak registered almost simultaneously on three strings of the Nord Stream gas pipeline in the... 28.09.2022, Sputnik International
2022-09-28T11:25+0000
2022-09-28T11:25+0000
2022-10-19T21:19+0000
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The suspected sabotage of Russia’s Nord Stream gas pipeline indicates that this winter, Europe will have to survive without any significant Russian flows, Bloomberg has reported.According to the news agency, the Nord Stream breakdown adds to Europe’s economic woes as EU governments spend hundreds of billions of euros to ease the pain of high gas prices, a measures that may fail to stop a looming deep recession that may become a repeat of the 2009 economic meltdown.Dario Perkins, an economist at the London-based independent research company TS Lombard, told Bloomberg that the governments “are under enormous pressure to [further] intervene."The remarks came after Nord Stream AG said on Tuesday that three offshore lines of the Nord Stream gas pipeline network sustained "unprecedented" damage in one day.When asked if sabotage was the reason for the damage, Kremlin spokesman Dmitry Peskov, for his part, told reporters that “no option can be ruled out right now.”This followed the operator Nord Stream AG telling Sputnik on Monday that a landfall dispatcher had registered a rapid gas pressure drop on line A of the Nord Stream 2 pipeline. The incident occurred in Danish waters near the island of Bornholm.Later that day, the operator also said that a pressure drop had been detected on both strings of the Nord Stream 1 pipeline and that the incident is already under investigation. The company acknowledged that the destruction is "unprecedented" and that it is unclear how much time the repair work will take.The work of the pipeline, which remains filled with gas, has been suspended since the end of August due to problems with the repair of turbines caused by Western sanctions being slapped on Russia in response to its ongoing special military operation in Ukraine.As the main gas supply route to Europe, the 1,224-kilometre (760 mile) Nord Stream is designed to deliver blue fuel through the Baltic Sea from the entry point in Russia's Vyborg to the exit point in Germany's Lubmin, with the capacity standing at 55 billion cubic meters of natural gas a year.
https://sputnikglobe.com/20220927/impossible-to-estimate-timing-of-resumption-of-nord-stream-operation---operator-1101288656.html
https://sputnikglobe.com/20220928/norway-sharpens-preparedness-on-continental-shelf-after-possible-sabotage-of-nord-stream-pipelines-1101296122.html
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Nord Stream Breakdown May Add to Europe’s ‘Deep’ Economic Recession - US Media
11:25 GMT 28.09.2022 (Updated: 21:19 GMT 19.10.2022) On Tuesday, Operator Nord Stream AG admitted that the recent gas leak registered almost simultaneously on three strings of the Nord Stream gas pipeline in the Baltic Sea was "unprecedented."
The suspected sabotage of
Russia’s Nord Stream gas pipeline indicates that this winter, Europe will have to survive without any significant Russian flows, Bloomberg has reported.
According to the news agency, the Nord Stream breakdown adds to Europe’s economic woes as EU governments spend hundreds of billions of euros to ease the pain of high gas prices, a measures that may fail to stop a looming deep recession that may become a repeat of the 2009 economic meltdown.
Dario Perkins, an economist at the London-based independent research company TS Lombard, told Bloomberg that the governments “are under enormous pressure to [further] intervene."
27 September 2022, 20:26 GMT
“Price caps, liquidity support and big fiscal transfers seem inevitable. The authorities must support households and businesses or suffer a recession similar to the one they dodged during the [COVID-19] pandemic,” he argued.
The remarks came after Nord Stream AG said on Tuesday that three offshore lines of the Nord Stream gas pipeline network sustained "unprecedented" damage in one day.
When asked if sabotage was the reason for the damage, Kremlin spokesman Dmitry Peskov, for his part, told reporters that “no option can be ruled out right now.”
“This is very concerning news. Indeed, we are talking about some damage of an unclear nature to the pipeline in Denmark's economic zone. This is an issue related to the energy security of the entire continent,” Peskov underscored.
This followed the operator Nord Stream AG telling Sputnik on Monday that a landfall dispatcher had registered a rapid gas pressure drop on line A of the Nord Stream 2 pipeline. The incident occurred in Danish waters near the island of Bornholm.
Later that day, the operator also said that a pressure drop had been detected on both strings of the Nord Stream 1 pipeline and that the incident is already under investigation. The company acknowledged that the destruction is "unprecedented" and that it is unclear how much time the repair work will take.
28 September 2022, 06:28 GMT
The work of the pipeline, which remains filled with gas, has been suspended since the end of August due to problems with the repair of turbines caused by Western sanctions being slapped on Russia in response to its ongoing special military operation in Ukraine.
As the main gas supply route to Europe, the 1,224-kilometre (760 mile) Nord Stream is designed to deliver blue fuel through the Baltic Sea from the entry point in Russia's Vyborg to the exit point in Germany's Lubmin, with the capacity standing at 55 billion cubic meters of natural gas a year.
