Russian gas flows via the Nord
Stream 1 pipeline are likely to restart on time on Thursday after the
completion of scheduled maintenance but at lower than its full capacity, two
Russian sources familiar with the export plans told Reuters.
The pipeline, which accounts
for more than a third of Russian natural gas exports to the European Union, was
halted for ten days of annual maintenance on July 11.
The Russian sources, speaking
on condition of anonymity because of the sensitivity of the issue, told Reuters
the pipeline was expected to resume operation on time, but at less than its
capacity of some 160 million cubic metres (mcm) per day.
Kremlin-controlled energy
giant Gazprom (GAZP.MM), cut gas exports through the route to 40% capacity
last month, citing delays in the return of a turbine Siemens Energy (ENR1n.DE) was
servicing in Canada.
“They (Gazprom) will
return to the levels seen before July 11,” one of the sources said of the
gas volumes expected via Nord Stream 1 from Thursday.
The benchmark Dutch
front-month contract fell following the Reuters’ report that flows will resume
on Thursday.
