Gazprom Releases a Sinister Video Taunting Europe Over Winter Gas Shortages

Essay by Eric Worrall

In the wake of announcing an indefinite shutdown of gas supplies, and massive flaring of gas which could have been sent to Europe, Gazprom has released a video titled “And winter will be big”, which appears to mock Europe’s gas shortage.

The mocking video

The shutdown;

Gazprom shuts down Nord Stream 1 pipeline ‘indefinitely’

Russian state-owned energy giant Gazprom stops all gas flows to Germany, citing maintenance work.

By Smruthi Nadig

Russian state-owned energy corporation Gazprom has indefinitely shut down gas flows through its key Nord Stream 1 pipeline to Germany from 2 September. 

European governments had anticipated the Nord Stream 1 pipeline to operate this week after a brief maintenance period. However, Russia abruptly stopped the flows, citing an oil leak in a turbine. Gazprom stated that until it made all repairs, it would not restart the pipeline.

After Russia’s Gazprom shut down the Nord Stream 1 gas pipeline, intensifying Europe’s energy crisis, Finland and Sweden announced plans to grant billions of dollars in liquidity guarantees to their respective power firms.

Finland intends to offer $14.6bn in liquidity guarantees, while Sweden aims to provide $34bn.

Siemens Energy responded, saying:  “Such leaks do not normally affect the operation of a turbine and can be sealed on site. It is a routine procedure within the scope of maintenance work.

Read more: https://www.offshore-technology.com/news/gazprom-shuts-down-nord-stream-1-pipeline-indefinitely/

I suspect European politicians are hoping Russia is on the brink of collapse, that business as usual will resume in the near future. But how can they be sure?

European politicians and energy brokers demonstrated their incompetence at managing energy supplies in 2021, when they rejected offers of long term contracts, and instead gambled they could pick up cheap gas on the spot market – a gamble they lost, and lost badly. So I have no confidence Europe’s leaders have any idea what they are doing, when it comes to managing the 2022-23 energy crisis.

What are the prospects for Russia surrendering to European demands?

The Russian military might be embarrassing themselves in Ukraine, but I’m skeptical of claims Russia is about to run out of money. Russia is still receiving plenty of money from the West.

For example, Russia is making lots of money from Asian fossil fuel exports. One of the reasons gasoline prices have fallen a little lately in Asia is substantial quantities of cheap Russian oil have returned to the international market, via a massive loophole in the sanctions. The loophole allows substantially modified products to be traded on the international market. Selling Russian crude oil is a sanctions violation, but selling gasoline refined by India and China from Russian crude is apparently OK.

Europe, Britain and Australia have the power to develop sufficient domestic supplies to eliminate our dependence on Russia. The USA experienced a brief moment of energy independence under President Trump, before slumping back into import dependency under President Biden. Our current crop of Western politicians could eliminate dependency on imports, but they are hesitating, refusing to let go of their green energy fantasies, waiting for Putin to go back to being a good lapdog.

They may be in for a longer wait than they bargained on.

via Watts Up With That?

https://ift.tt/1vuAP3W

September 6, 2022 at 08:49PM

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