Russia Resumes Nord Stream 1

...at 40% capacity

Previously, The Daily Beagle reported that Nord Stream 1 supplies had stopped. As of today (21st July), this is no longer the case, as ZeroHedge reports. However, there is a gotcha: it is at 40% capacity.

Klaus Mueller, head of German regulator BNetzA, tweeted earlier and confirmed NatGas flows "can today reach the pre-maintenance level of approx. 40% utilization (approx. 700 GWh/d),"

This isn’t any malice on Russia’s part though, as the 60% reduction is proportionate to the non-payment of gas in Rubles by various States. Gazprom - the gas supplier who owns Nord Stream 1 - had declared ‘force majeure’ earlier in the week and said they would halt gas supplies ‘indefinitely’ (‘force majeure’ is basically French for ‘Act of God’, a way of saying ‘beyond our control’).

I had resisted the temptation of reporting on the force majeure earlier because I had a feeling Russia were trying to turn up the pressure - verbally speaking - on the supplies shortage. It’d also cast the false impression they wouldn’t ever restore gas lines, which narratively speaking is awkward to walk back on. It looks like my gamble was right as Nord Stream 1 restored supplies on July 21st - a date that had been claimed by Russia Today.

They haven’t shown a willingness to actually embargo states over gas, so I didn’t think they’d maintain permanence on the ‘force majeure’ declaration. Although Europe is indeed severely crippled and facing death, there is no need to go chicken little over a total gas embargo yet. That isn’t to say one isn’t coming. Prepare accordingly.

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