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Canada Expected to Release Nord Stream Turbine

NATURAL GAS

Germany has confirmed that the government expects Canada to release the turbine which Russia says is needed to increase flows through Nord Stream.

  • TTF is down 5.3% today to 173.5€/MWh
  • They expect the release soon but could not say when the turbine will be delivered.
  • The turbine would be sent to Germany first and then delivered to Gazprom, so Canada does not breach any sanctions.
  • Gazprom cut Nord Stream flows from a max capacity of 167mcm/d to 65mcm/d citing the delayed return of the equipment from Canada.
  • The Kremlin said that if the turbine is sent back then gas flows through Nord Stream can increase. They rejected allegation that they are using oil and gas as political weapons.
Energy BulletsCanada Bank of Canada Market NewsCommodities
Energy BulletsCanada Bank of Canada Market NewsCommodities

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