Gazprom the Russian gas giant have announced their plans to cut gas supplies to the Nord Stream pipeline. They have said that around 40% of the gas supply would be decreased for supply work to be done. However, Germany have pushed back against this as they have deemed it a political decision that is intended to drive up prices.
Germanys Economy Minister has said that repair work does need to be done on the pipeline, however this would not be until Autumn time that the repair would eve begin and the repairs that need doing would not warrant a 40% reduction of gas. Germany have said that is unjustified for Russia to do this and is a plan to unsettle energy prices.
This incident shows that Russia is continuing to weaponize gas supplies that are flowing into Europe in order to exert political pressure over the rest of Europe. The changes in the energy market across Europe in the beginning of this year set energy prices to record levels in some countries. If this pressure continues from Russia then energy prices are likely to shoot up even further by the time the winter comes in.
If you're looking to save money on your energy bills then why not get in touch today? The relationships Resolve Energy has developed with over 24 of the UK’s biggest business energy suppliers allows our energy experts to source the best business energy rates available for your company right when you need them. Request a free quote today and start saving money on your energy.