On Monday, the Nord Stream 1 gas pipeline, which runs from Russia to Germany via the Baltic Sea, will be temporarily closed due to annual maintenance. Russia had previously cut gas supplies through the pipeline by 60 percent due to technical problems. Critics reject the Russian argument of technical problems and believe that Russia is trying to put pressure on the West for supporting Ukraine.
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It is now feared that Moscow will completely stop supplying gas to Germany after the maintenance. According to DIHK president Peter Adrian, a complete Russian supply freeze could lead to an economic contraction of 10 percent or more in the winter period. Many companies will have to stop operations if there is no more gas, Adrian said. According to him, new terminals for liquefied natural gas (LNG) will not be ready in time to compensate for the loss of Russian gas.
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“Unfortunately, we have to take into account a scenario that when maintenance stops on July 21, there will be no more gas flowing through Nord Stream 1. That would be a disaster,” said Adrian.
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Also see: Germany suspends procedure for Nord Stream 2
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