How much gas does Russia deliver to Europe?

The reduction in Russian gas exports has sent global prices soaring, but Moscow has denied using energy as a political weapon.

Gazprom has said missing documents have prevented certain gas turbines being maintained - but Siemens Energy has rejected the suggestion it failed to provide the relevant paperwork.

What is Nord Stream 1 and how much gas does it supply?

It opened in 2011, and can send a maximum of 170m cubic metres of gas per day from Russia to Germany.

The Nord Stream 1 pipeline stretches 1,200km (745 miles) under the Baltic Sea from the Russian coast near St Petersburg to north-eastern Germany.

The reduction in Russian gas exports has sent global prices soaring.

But a spokesperson for the EU told the BBC the sanctions regime does not affect the technology needed for the transport of gas into Europe.

Gas prices have risen

 Gas prices soared on Monday due to mounting concerns over energy supplies.

Moscow has blamed Western countries for its decision not to reopen the Nord Stream 1 pipeline after it was shut for three days for maintenance.

When asked if supplies would resume pumping if sanctions were eased, a Kremlin spokesman said,yes.

The Dutch month-ahead wholesale gas price, a benchmark for Europe, was up as much as 30% in early trading on Monday. Prices in the UK rose as much as 35% before winding back to £4.50 per therm.

Wholesale prices have been very volatile in recent weeks. They fell sharply last week when Germany announced that its gas storage facilities were filling up faster than expected.

Tags:gas,Europe,Kremlin,

Germany is considering a new gas procurement package

 Germany is considering a new gas procurement package....

Germany Is Considering Investing in Another Major Russian Gas Importer

The German government is prepared to take a stake in a second domestic natural gas supplier in order to contain an escalating energy crisis, which has already prompted discussions about the potential nationalization of energy behemoth Uniper SE.

Capital injection could be part of a rescue package for EnBW's VNG.

According to people familiar with the situation, a rescue package for VNG AG, the troubled gas importing subsidiary of German utility EnBW AG, could include a capital injection that would give the government a minority stake in the company.

Russia gas stoppage shakes markets

 Governments in the European Union are rushing through multibillion euro packages to save utilities from collapsing under a liquidity crunch and to shield consumers from skyrocketing energy costs.

Despite the fact that Russia also exports gas to Europe via a pipeline that passes through Ukraine, these supplies have decreased due to the crisis, forcing the EU to scramble to find substitute sources to restock gas storage facilities for the coming winter.

After Russia cut off gas flows via a major pipeline on Monday, sending another shock wave through the economies in the area still battling to recover from the plague, European gas prices spiked, markets fell, and the euro fell.

Finland intends to offer 10 billion euros ($10 billion) in liquidity guarantees to its power companies, while Sweden intends to offer 250 billion Swedish crowns ($23 billion)...

Tags:gas,Russia,Europe,euro,inflation,

The important inflation statistics the euro's

 The important inflation statistics released on Wednesday could give the euro's emerging recovery its own hawkish push, which could restrain the dollar's future advances.

Falling gas prices have assisted in reversing falls in the common currency, while the Federal Reserve's adamant desire to combat inflation at Jackson Hole has strengthened discussions of the same nature among members of the European Central Bank. Over 1% has been added to the euro since its two-decade low on August 23.

The euro has a significant impact on the overall direction of the greenback, accounting for 31% of the Bloomberg Dollar Spot Index and nearly 60% of the ICE equivalent. Any currency rally will help to deflate the dollar's post-Jackson Hole rally.

Tags:the euro,dollar,bank,gas,

Inflation of the euro

 Analysts warn that the euro may not have reached its trough due to persistent risks that a Russian gas cutoff will plunge the region into deep recession. This scenario could severely limit the ECB's ability to raise interest rates, which it has yet to do. It is expected to raise benchmark rates by 25 basis points at its next policy meeting on July 21, and to announce a larger hike in September.

Since the beginning of the year, the euro has lost more than 10% of its value against the US dollar, on fears that a sharp economic slowdown in the eurozone will leave the European Central Bank's interest rates far below those of the Federal Reserve.

The Fed, on the other hand, has raced ahead, most recently with a massive 75 basis point move, which some analysts predict will be repeated this month.

Francois Villeroy de Galhau, a member of the Governing Council, is one of the decision-makers who has highlighted this issue. He warned that the central bank "would carefully monitor movements in the effective exchange rate, as a significant driver of imported inflation," earlier this year.

Tags:Reserve,banks,gas,rates,