Crisis in Europe: the day Nord Stream stopped

Photo: © REUTERS/Hannibal Hanschke

In the morning, transit through Nord Stream, the main route for Russian gas supplies to Europe, was stopped. Under the conditions of the crisis, this was perceived especially acutely in Germany, where inflation had already accelerated to a half-century peak. Will the bet on helicopter money save the situation in the German economy, and what are other countries ready to do against the backdrop of a catastrophic fuel shortage in order to survive this winter? Details are in the story. REN TV.

Energy Crisis in Europe

Europe will remember the last day of summer all winter long. From the “Nord Stream” again breathed a terrible cold – the injection of Russian gas was stopped at exactly 4 am Moscow time.

“As you know, Russia has announced maintenance on August 31”– said the head of the Federal Network Agency of Germany, Klaus Müller.

When the pressure drops in the pipe, it builds up in governments – a closed cabinet meeting took place in Germany. The crisis has come, measures against it will be unpopular.

“We can say that this also includes decisions that the government would never have dared to make in previous years”– says Vice-Chancellor, Minister for Economic Affairs and Climate Protection of Germany Robert Habeck.

At least they will try to curb the price of gas with the help of “state robing” in the form of a tax on excess profits for those corporations that are now profiting from the situation in the energy sector. Among them are oil and gas companies.

Photo: © Video screenshot

But in addition to unaffordable gas prices, there will be an additional burden on the budget. The German government plans to once again distribute so-called “helicopter money” – financial assistance to help pay bills to citizens and companies. Otherwise, the square in front of the Bundestag will be filled with protesters. Chancellor Olaf Scholz is booed in small towns.

Gas shortage and reduced consumption

A whole summit on energy security was held in Copenhagen on the topic of the day. The head of the European Commission, Ursula von der Leyen, reports that everything is “not so tragic.”

“Good news, our gas storage facilities are 80% full”, von der Leyen said.

That’s just the European average. The Germans can still boast of such reserves, but in other countries it is much worse. Austria, Hungary and Bulgaria have storage facilities only 60% full. In the Baltic countries, even lower, for example, in Latvia, as they say, half empty – only 55%.

Photo: © Video screenshot

Preparing for the first wintering in conditions of such a critical shortage, Europe goes into energy austerity, cities are plunged into darkness, offices and civil servants are offered to freeze in their offices.

“In the face of the risk of energy shortages this winter, we have only one way – to reduce energy consumption. I propose that we organize this reduction together. If we do not do this, if each of them does not contribute, from day to day there may be severe gas shutdowns with serious economic and social consequences”says French Prime Minister Elisabeth Born.

Who can stock up on firewood. Trees are cut down in Moldova and Germany, and on the roads of Poland one can now meet miners with trunks sagging from deadwood. The authorities of the country officially allowed to collect brushwood for the winter. An alternative to Russian gas, despite loud statements, has not been found. Hungarians understand this like no one else.

Photo: © Video screenshot

“Whether we like it or not, we will continue negotiations with the Russians on increasing gas supplies to Hungary. And we will sign an agreement according to which we could receive more gas from Russia from September. Again, I say whether you like it or No”adds Hungarian Foreign Minister Peter Szijjártó.

Nord Stream Alternatives

Elon Musk, head of the largest manufacturer of alternative electric cars, and he raised his voice in a general cacophony of desperation. He also has production in Europe.

“To be honest, I’m not one to demonize oil and gas. It’s needed right now, otherwise civilization wouldn’t be able to function.”– said the billionaire.

Stops in fact the only major gas pipeline in Europe for maintenance will occur again and again. The work may be complicated due to European sanctions, as was the case with the repair of the turbine in July.

Photo: © REUTERS/Hannibal Hanschke

“The system is hanging by a thread, more precisely, on one turbine, which is just being stopped for testing. But this is complex equipment that, like all other engines, can fail. Or something can happen to it. This is natural depending on the severity of the incident, it can stop work completely and for an indefinite period”– explains the director of gas problems of the National Energy Security Fund Alexei Grivach.

The best alternative in such conditions for everyone, and Germany in particular, could be Nord Stream 2, which was completely ready for operation. But instead, Spanish Prime Minister Pedro Sanchez is visiting Chancellor Scholz with the little-known Catalan MidCat project – a pipeline from Barcelona through France to Central Europe. However, like everything else now, too expensive and completely uneconomical.

Source: Ren.tv

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