London Daily

Focus on the big picture.
Sunday, Feb 15, 2026

Europe on edge as Nord Stream Russian gas link set for planned shut-down

Europe on edge as Nord Stream Russian gas link set for planned shut-down

The biggest single pipeline carrying Russian gas to Germany starts annual maintenance on Monday, with flows expected to stop for ten days, but governments, markets and companies are worried the shut-down might be extended due to war in Ukraine.

The Nord Stream 1 pipeline transports 55 billion cubic metres (bcm) a year of gas from Russia to Germany under the Baltic Sea. It will undergo maintenance from July 11 to 21.

Last month, Russia cut flows to 40% of the pipeline's total capacity, citing the delayed return of equipment being serviced by Germany's Siemens Energy (ENR1n.DE), in Canada. Canada said at the weekend it would return a repaired turbine, but it also said it would expand sanctions against Russia's energy sector.

Europe fears Russia may extend the scheduled maintenance to restrict European gas supply further, throwing plans to fill storage for winter into disarray and heightening a gas crisis that has prompted emergency measures from governments and painfully high bills for consumers.

German economy minister Robert Habeck has said the country should confront the possibility that Russia will suspend gas flows through Nord Stream 1 beyond the scheduled maintenance period.

"Based on the pattern we've seen, it would not be very surprising now if some small, technical detail is found and then they could say 'now we can't turn it on any more'," he said at an event at the end of June.

Kremlin spokesperson Dmitry Peskov dismissed claims that Russia was using oil and gas to exert political pressure, saying the maintenance shutdown was a regular, scheduled event, and that no one was "inventing" any repairs.

There are other big pipelines from Russia to Europe but flows have been gradually declining, especially after Ukraine halted one gas transit route in May, blaming interference by occupying Russian forces.

Russia has cut off gas supplies completely to several European countries that did not comply with its demand for payment in roubles.

"The last few months have shown one thing: Putin knows no taboos. A complete halt to gas supplies through the Nord Stream pipeline cannot therefore be ruled out," Timm Kehler, managing director of German industry association Zukunft Gas, said.

TURBINE TROUBLE


Germany at the weekend welcomed Canada's decision to issue a "time-limited and revocable permit" to allow equipment to be returned for the Nord Stream 1 pipeline.

But Ukraine's energy and foreign ministries said in a statement they were "deeply disappointed" and urged Canada to reverse a decision they said amounted to adjusting the sanctions imposed on Moscow "to the whims of Russia".

Siemens Energy said it was working on further formal approvals and logistics to get the equipment in place as soon as possible.

Zongqiang Luo, gas analyst at consultancy Rystad Energy, said it was "not impossible" Gazprom could use any delay as a justification to extend the maintenance period.

In previous years, the annual maintenance period on Nord Stream 1 has lasted around 10-12 days and has finished on time.

It is not uncommon for additional faults to be detected during routine maintenance at pipelines or gas infrastructure and operators can prolong outages if necessary.

While a complete halt of gas is considered unlikely, Gazprom has not been re-routing flows via other pipelines, meaning a prolonged reduced flow rate is probable, analysts at Goldman Sachs said.

MULTI-BILLION ECONOMIC BLOW


Germany has moved to stage two of a three-tier emergency gas plan, which is one step before the government rations fuel consumption.

It has also warned of recession if Russian gas flows are halted. The blow to the economy could be 193 billion euros ($195 billion) in the second half of this year, data from the vbw industry association of the state of Bavaria showed last month.

"The abrupt end of Russian gas imports would also have a significant impact on the workforce in Germany...around 5.6 million jobs would be affected by the consequences," vwb's managing director Bertram Brossardt said.

The effects would be wider still. A complete halt would keep European gas prices, which have already stung industry and households, higher for longer.

Wholesale Dutch gas prices, the European benchmark, have risen more than 400% since last July.

"If Nord Stream gets cut off, or if Germany loses all its Russian imports, then the effect will be felt on the whole of north-western Europe," Dutch energy minister Rob Jetten said.

In an interview with Reuters on Thursday, he said the Dutch Groningen gas field could still be called upon the help neighbouring countries in the event of a complete cut off in Russian supplies, but ramping up production would risk causing earthquakes. read more

Meanwhile, a halt of supply through Nord Stream 1 would hurt Russia as well as western Europe because it would lose revenues.

Russia's finance ministry said it in June expected to receive 393 billion roubles ($6.4 billion) in extra oil and gas revenues compared with the amount expected in its budget planning.

For July, it expects 259 billion roubles above its budget plan.

Extended maintenance could also result in more Russian gas production shut-ins, relative to the 9% year-to-date year-on-year decline in Gazprom production reported so far, Goldman Sachs said.

($1 = 0.9898 euros)

($1 = 61.5000 roubles)

Newsletter

Related Articles

0:00
0:00
Close
Rubio Calls for Sweeping U.N. Reform, Saying It Has Failed to End Wars in Gaza and Ukraine
10,000 Condoms Distributed at Winter Olympics 2026 Athlete Village Depleted Within 72 Hours
Poland's President Advocates for Evaluating Independent Nuclear Weapons Development
Prince William Meets Saudi Crown Prince as Epstein-Andrew Fallout Casts Shadow
Starmer Calls for Renewed ‘Hard Power’ Investment at European Security Summit
UK Police Establish National Taskforce to Handle Domestic Epstein-Linked Allegations
UK Court Rules Ban on Palestine Action Unlawful in Major Free Speech Test
UK Faces Prospect of Net Migration Turning Negative as Economic Impact Looms
Mayor of Serdobsk in Russia’s Penza Region Resigns After Housing Certificates Granted to Migrant Family Trigger Public Outcry
Pentagon Reviews Anthropic Partnership After Claude AI Reportedly Used in Operation Targeting Nicolás Maduro
President Donald Trump and Hip-Hop’s Political Realignment: Pardons, Public Endorsements, and the Struggle Over Cultural Influence
China’s EV Makers Face Mandatory Return to Physical Buttons and Door Handles in Driver-Distraction Safety Overhaul
Goldman Sachs and DP World Executive Resignations: Elite-Reputation Risk and Corporate Governance Fallout From the Epstein Disclosures
‘Amelia’: The UK Government’s Anti-Extremism Game Villain Who Became a Protest Symbol
Peter Mandelson Asked to Testify Before US Congress Over Jeffrey Epstein Links
Walmart's Earnings and UK Economic Data Highlight Upcoming Financial Trends
UK Green Party Considering Proposal to Legalize Heroin for an Inclusive Society
SpaceX's New Vision: Lunar City Takes Precedence Over Mars Colonization
OpenAI and DeepCent Superintelligence Race: Artificial General Intelligence and AI Agents as a National Security Arms Race
Document Suggests Prince Andrew Shared UK Briefing on Afghan Investment Opportunities with Jeffrey Epstein
We will protect them from the digital Wild West.’ Another country will ban social media for under-16s
McDonald's Shortens Breakfast Hours in Australia Due to Egg Shortage
Heineken announces cut of 6,000 jobs due to declining beer demand
Beijing Brands UK Hong Kong Visa Expansion ‘Despicable and Reprehensible’ After Jimmy Lai Sentencing
Tesco Chief Warns UK Is ‘Sleepwalking’ Toward a Joblessness Crisis
Trump’s ‘Act of Great Stupidity’ Comment on UK Chagos Deal Reverberates Through Diplomacy and Strategy
New U.S. filings say Jeffrey Epstein repaid Les Wexner one hundred million dollars after theft allegation
Commerce Secretary Howard Lutnick acknowledges 2012 visit to Jeffrey Epstein’s private island as lawmakers scrutinise past ties
Helsing and Stark Defence loitering-munition drones and Germany’s race to industrialise battlefield autonomy
UK orders deletion of Courtsdesk court-data archive, reigniting the fight over who controls public justice records
UK Police Review Fresh Claims Involving Prince Andrew as Senior Royals Respond to Epstein Files
Keir Starmer’s Premiership Faces Unprecedented Strain as Epstein Fallout Deepens
Starmer Vows to Stay in Office as UK Government Faces Turmoil After Epstein Fallout
China and UK Signal Tentative Reset with Commitment to Steadier, Professionally Managed Relations
UK Confirms Imminent Increase in ETA Fee to £20 as Entry Rules Tighten
UK Signals Possible Seizure of Russia-Linked ‘Shadow Fleet’ Tanker in Escalation of Sanctions Enforcement
Epstein Scandal Piles Unprecedented Pressure on UK Prime Minister Keir Starmer’s Leadership
UK’s ‘Most Romantic Village’ Celebrates Valentine’s Day and Explores the Festival’s Rich History
The Implications of Expanding Voting Rights to Non-EU Foreign Residents in France
Ghislaine Maxwell to Testify Before US Congress on February 9
Al.com Acquired by Crypto.com Founder for $70 Million
Apple iPhone Lockdown Mode blocks FBI data access in journalist device seizure
Belgium: Man Charged with Rape After Faking Payment to Sex Worker
KPMG Urges Auditor to Relay AI Cost Savings
US and Iran to Begin Nuclear Talks in Oman
Winklevoss-Led Gemini to Slash a Quarter of Jobs and Exit European and Australian Markets
Canada Opens First Consulate in Greenland Amid Rising Geopolitical Tensions
China unveils plans for a 'Death Star' capable of launching missile strikes from space
NASA allows astronauts to take smartphones on upcoming missions to capture special moments.
Trump administration to launch TrumpRx.gov for direct drug purchases
×