Russia cuts gas flow to Europe

Fears of a European gas crisis are mounting as Russia cuts supplies through its main pipeline to a fifth of capacity, threatening to leave the continent short of supplies ahead of winter

Nord Stream pipeline
Nord Stream 2 (halted by Germany)

Jun 15: Gazprom cuts Nord Stream 1 flow by 40%

BELARUS
LITHUANIA
RUSSIA
POLAND
GERMANY
NORWAY
SWEDEN
FINLAND
DENMARK
RUS.
LATVIA
ESTONIA
Greifswald
Narva Bay
Vyborg
North Sea
BalticSea

200km
125 miles




European gas storage (Percentage full, July 25)

Gas from Russia

Jul 27: Nord Stream 1 flow cut from 40% to 20%

European gas price: €195 per megawatt hour – five times higher than July 2021

Poland
Czech Rep.
Spain
France
Belgium
Italy
Germany
Netherlands
Austria
Hungary
Bulgaria
98.6%
77.7%
75.7%
75.5%
71.4%
70.5%
66.4%
62.8%
51.3%
49.2%
44.4%
00%
11.0%
10.0%
0%
3.0%
6.5%
9.0%
15.0%
2.0%
15%
25%
12%

Sources: Aggregated Gas Storage Inventory, Breugel, Reuters
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