Business news from Ukraine

Price of gas in Europe soared above $2,700/thousand cubic meters

20 August , 2022  

The spot price of gas in Europe soared above $2,700/ths. cube m for the news about the new repair on the Nord Stream highway.
The price of the nearest (September) TTF futures on the ICE Futures exchange on Friday evening reached $2,712 per thousand cubic meters.
On Friday evening, Gazprom announced that the only working gas-compressor unit of the Nord Stream main’s departure compressor station at the Portovaya CS would be shut down from August 31 to September 2 for three days for maintenance and scheduled preventive work.
The gas pipeline is capable of transporting up to 167 million cubic meters per day. m of gas, but the capacity was reduced due to the violation of the maintenance schedule for the equipment of the starting station of the sea main – the compressor station “Portovaya”. It is equipped with gas compressor units from Rolls-Royce, whose gas turbine business has been taken over by Siemens. Due to Canadian sanctions imposed in response to the military aggression of the Russian Federation in Ukraine, one turbine did not return to Russia from the Siemens Energy repair base on time. In the meantime, the time has come for a major overhaul of other engines, both in connection with the operating time between overhauls and in connection with breakdowns.

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