The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    14 injured as escalator reverses at Sunae Station in Bundang

  • 3

    Gov't to launch intensive crackdown against foreigners committing drug crimes

  • 5

    Dog meat traders condemn first lady, animal rights groups' push for ban

  • 7

    Netflix's new original 'Bloodhounds' to deliver cathartic action

  • 9

    INTERVIEWSpaceX's Starlink in Kyiv is wake-up call for Seoul

  • 11

    PHOTOSSubway escalator accident

  • 13

    Billy Graham Seoul Crusade celebrates 50th anniversary

  • 15

    Home gardening boom inspires plant adoption, specialized care services for leafy companions

  • 17

    Canada wildfires shroud New York in apocalyptic haze

  • 19

    White Cube to open space in Seoul

  • 2

    RM to attend Seoul festival to mark BTS' 10th anniv.

  • 4

    Korea falls to Italy in FIFA U-20 World Cup semifinals

  • 6

    Ad or song?: Coca-Cola Zero ad featuring NewJeans becomes marketing blueprint

  • 8

    Robot to conduct orchestra for 1st time in Korea

  • 10

    Dollar remittance, foreign exchange rules to be eased

  • 12

    'Leaving Las Vegas' director Mike Figgis puts Korea in spotlight in new film

  • 14

    Rising minimum wage burdens small biz owners: survey

  • 16

    NATO chief to chair emergency Ukraine meeting over dam

  • 18

    Yoon's labor reform drive sputters as umbrella union exits talks

  • 20

    Korean businesses seek tougher punishments for industrial espionage

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
World
  • SCMP
  • Asia
Sat, June 10, 2023 | 17:52
EU tells members to cut gas usage amid new Putin warning
Posted : 2022-07-21 10:56
Updated : 2022-07-21 11:36
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
A photo taken on July 20, shows the industrial plant of the Nord Stream 1 Baltic Sea pipeline near Lubmin, northeastern Germany. AFP-Yonhap
A photo taken on July 20, shows the industrial plant of the Nord Stream 1 Baltic Sea pipeline near Lubmin, northeastern Germany. AFP-Yonhap

The European Union told member states on Wednesday to cut gas usage by 15 percent until March as an emergency step after President Vladimir Putin warned that Russian supplies sent via the biggest pipeline to Europe could be reduced further and might even stop.

Deliveries via Nord Stream 1, which accounts for more than a third of Russian gas exports to the EU, are due to resume on Thursday after a 10-day halt for annual maintenance.

German gas network operator Gascade said on Wednesday it expects flows to resume at pre-maintenance levels based on current requests for gas.

On July 10, the last full day before maintenance on the pipeline started, flows stood at around 698 GWh.

Supplies via the route had been reduced even before the maintenance outage in a dispute over sanctions, and may now be cut further, while flows via other routes, such as Ukraine, have also fallen since Russia invaded its neighbor in February.

The disruptions have hampered Europe's efforts to refill gas storage before winter, raising the risk of rationing and another hit to fragile economic growth if Moscow further restricts flows in retaliation for Western sanctions over the war in Ukraine.

The European Commission proposed a voluntary target for all EU states to cut gas use by 15 percent from August to March, compared with their average consumption in the same period in 2016-2021.

"Russia is blackmailing us. Russia is using energy as a weapon. And therefore, in any event, whether it's a partial, major cut-off of Russian gas or a total cut-off of Russian gas, Europe needs to be ready," EU Commission President Ursula von der Leyen said.

The Commission proposal would enable Brussels to make the target mandatory in a supply emergency, if the EU declared a substantial risk of severe gas shortages.

The move, which needs the backing of EU states, will be discussed on Friday so ministers can approve it on July 26.

"We believe that a full disruption is likely," one EU official said. "If we wait, it will be more expensive and it will mean us dancing to Russia's tune."

EU states are trying to ensure storage facilities are 80 percent full by Nov. 1, from about 65 percent now.

Will flows resume?

European politicians say Russia is using technical issues as a pretext to cut deliveries. The Kremlin says Russia is a reliable energy supplier and blames sanctions for reduced flows.

Russia resumes critical gas supplies to Europe via Nord Stream
Russia resumes critical gas supplies to Europe via Nord Stream
2022-07-21 15:51  |  World
Can Europe live without Russian natural gas?
Can Europe live without Russian natural gas?
2022-07-21 11:36  |  World

Two Russian sources familiar with export plans said flows via Nord Stream 1 were expected to restart on Thursday but below capacity of 160 million cubic meters (mcm) per day.

Kremlin-controlled Gazprom cut gas exports via the route to 40 percent capacity in June, blaming delays to the return of a turbine that Siemens Energy was servicing in Canada.

That turbine, which was caught up in sanctions, was reported this week to be on its way back, although Gazprom said on Wednesday it had not received documentation to reinstall it and said the turbine's return and maintenance of other equipment was needed to keep the pipeline running safely.

Putin said there might be a further reduction in supplies or even a complete halt to flows via the pipeline that runs under the Baltic Sea to Germany, which relies heavily on Russian fuel.

He said equipment was being returned from Canada but said the quality of the returned gear and other parameters meant the pipeline might still be shut down in the future.

"Maybe... they will turn it off at some point, and that's it, and Nord Stream 1 will stop, because they came from there, from Canada," he said in televised comments, without elaborating.

Gas prices have rocketed in volatile trade since the Ukraine crisis erupted. The front-month gas contract climbed above 160 euros per megawatt hour (MWh) on Wednesday, 360 percent up on a year ago but below its March peak of 335 euros.

A photo taken on July 20, shows the industrial plant of the Nord Stream 1 Baltic Sea pipeline near Lubmin, northeastern Germany. AFP-Yonhap
Warning signs are pictured in front of the gas compressor station, a part of Polish section of the Yamal pipeline that links Russia with western Europe which is owned by a joint venture of Gazprom and PGNiG but it is operated by Poland's state-owned gas transmission company Gaz-System, in Gabinek near Wloclawek, Poland May 23. Reuters-Yonhap

'Crumbling' equipment

The surge in price has squeezed utility companies, triggering bankruptcies. In Germany, the government plans to inject billions of euros into the country's biggest buyer of Russian gas, Uniper.

Siemens Energy said maintaining turbines for Nord Stream 1 would normally be a routine matter. It said it would continue maintaining equipment under sanctions if possible and where required, and it would work as fast as it could.

In earlier remarks, Putin said one of the five gas pumping units, operated by Siemens Energy at Nord Stream 1, was out of order due to a "crumbling of inside lining" and another was due to be sent for maintenance on July 26.

Putin said Gazprom, which has a monopoly on Russian gas exports by pipeline, was not to blame for the reduction of gas transit capacity via a network of pipelines to Europe.

He blamed Kyiv for closing one route via Ukraine, although Ukraine's authorities blame the shutdown on Russia's invasion.

In its pivot east, Gazprom said on Wednesday Russian gas supplies heading to China hit a new daily record. Moscow has been expanding capacity to supply China as deliveries to Europe dwindle, although Russia's Far East network is not connected to the European supply system.

European nations, meanwhile, have been chasing alternative supplies, although the global gas market was stretched even before the Ukraine crisis, with demand for the fuel recovering from the pandemic-induced downturn.

Those efforts have included seeking more gas from suppliers linked to Europe by pipeline, such as Algeria, and by building or expanding more liquefied natural gas (LNG) terminals to receive shipments from much further afield, such as the United States. (Reuters)



 
wooribank
Top 10 Stories
1Rising minimum wage burdens small biz owners: survey Rising minimum wage burdens small biz owners: survey
2IPO market regains vigor on bullish KOSPI IPO market regains vigor on bullish KOSPI
3OpenAI explores investment opportunities in Korean startups: Sam Altman OpenAI explores investment opportunities in Korean startups: Sam Altman
4China reaches out to Korean Assembly to counterweigh Yoon's bet on US China reaches out to Korean Assembly to counterweigh Yoon's bet on US
5Resurging household loans pose challenge for BOK's rate policy Resurging household loans pose challenge for BOK's rate policy
6S. Korea may see rise in NK defectors as Pyongyang mulls reopening borders S. Korea may see rise in NK defectors as Pyongyang mulls reopening borders
7SPC bolsters PR activities in US SPC bolsters PR activities in US
8Hyundai Motor partners with Spider-Man animation to envision future mobility Hyundai Motor partners with Spider-Man animation to envision future mobility
9Japanese business leaders pledge to support Busan's Expo bid Japanese business leaders pledge to support Busan's Expo bid
10Yoon's $40,000 GNI by 2027 goal seems unlikely prospect Yoon's $40,000 GNI by 2027 goal seems unlikely prospect
Top 5 Entertainment News
1China's hallyu restrictions likely to continue unless Seoul-Beijing ties improve China's hallyu restrictions likely to continue unless Seoul-Beijing ties improve
2Gang Dong-won, Park Jeong-min team up for Joseon-era thriller 'War and Revolt' Gang Dong-won, Park Jeong-min team up for Joseon-era thriller 'War and Revolt'
3[INTERVIEW] CIX talks about team chemistry, youth theme INTERVIEWCIX talks about team chemistry, youth theme
4Netflix's new original 'Bloodhounds' to deliver cathartic actionNetflix's new original 'Bloodhounds' to deliver cathartic action
5'Leaving Las Vegas' director Mike Figgis puts Korea in spotlight in new film 'Leaving Las Vegas' director Mike Figgis puts Korea in spotlight in new film
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group