How Russian Natural Gas Exports to Europe Have Changed Since the War

The average European household is facing a monthly energy bill of 500 euros ($494) next year, triple the amount in 2021, according to estimates by analysts at Goldman Sachs. Applied to all energy users, that implies a €2 trillion increase in spending on heat and electricity.

The squeeze is particularly acute in Germany, Europe’s largest economy, which relies on Russia as its biggest supplier of gas. The bulk of it flows through Nord Stream 1, a 760-mile passageway that connects the two countries via the Baltic Sea.

Since the war, the Russian-controlled operator of the pipeline, Gazprom, has twice reduced the amount of gas it sends to Germany and twice shut the pipeline down for maintenance. After the most recent shutdown last week, Gazprom postponed a planned restart, citing faulty equipment, and provided no timeline for reopening, with officials in the Kremlin blaming sanctions for delaying repairs.

Critics suggested that last week’s move was a cynical response by Russia after finance ministers for the Group of 7 countries said they had agreed to impose a price cap mechanism on Russian oil in a bid to choke off some of the revenue Moscow still generates from Europe.

Article source: https://www.nytimes.com/2022/09/07/business/russia-gas-europe.html