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☆ The US is supporting efforts to investigate the 'apparent sabotage' of the Nord Stream pipelines, says security advisor Jake Sullivan
▼ + stars: | 2022-09-28 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

US security advisor is speaking to his Danish counterpart about the "apparent sabotage" of the Nord Stream pipelines. The US is supporting investigation efforts and will continue safeguarding Europe's energy security, he said. "I spoke to my counterpart Jean-Charles Ellermann-Kingombe of Denmark about the apparent sabotage of Nord Stream pipelines," Sullivan tweeted Tuesday night. "The U.S. is supporting efforts to investigate and we will continue our work to safeguard Europe's energy security," he added. The Nord Stream 2 natural-gas pipeline, which runs parallel to Nord Stream 1, has never been operational because Germany shelved the project in February, days before Russia invaded Ukraine.

☆ Explosions at Nord Stream gas pipelines signal escalation to 'hybrid war' as Russia weaponizes energy, analyst says
▼ + stars: | 2022-09-28 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

The Nord Stream pipeline explosions are a major escalation of the energy crisis, according to analyst Simone Tagliapietra. "Today, Russia brought its energy weaponisation against Europe to the next level: from economic to hybrid war," tweeted the senior fellow at the think tank Bruegel. The US is supporting efforts to investigate the "apparent sabotage" of the Nord Stream pipelines, a national security advisor said, while two senior German lawmakers have pointed the finger at Russia. The US Central Intelligence Agency warned Germany weeks ago about potential attacks on Nord Stream, German magazine Der Spiegel reported Tuesday. While the Nord Stream 1 and Nord Stream 2 are shuttered and not delivering gas to Europe, European natural gas futures jumped 11% Wednesday as investors assessed the new risks to pipelines.

Such sanctions would prohibit Gazprom from paying Ukraine transit fees, which analysts say could end Russian gas flows to Europe via the country. "(Sanctions) would make into reality the worst-case scenario that European governments have been preparing for all summer, a European gas market without Russian gas," said Natasha Fielding, head of EMEA gas pricing at Argus Media. "Transit through Ukraine is the only Russian gas delivery route to Europe still in use besides the Turkish Stream pipeline, which serves southeast European countries," she added. Gas flows via the only operational Ukraine transit route through Sudzha are currently around 42 million cubic metres a day. As a result, European gas storage was 88% full as of Sept. 26, although there are variations between countries.

☆ Dow jumps 548 points as the Bank of England's intervention calms market panic over the UK's budget plans
▼ + stars: | 2022-09-28 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

US stocks climbed Wednesday, with the S&P 500 logging its first win in seven sessions. Oil prices rose and concerns about iPhone 14 demand weighed on Apple's stock. The Dow industrials and the S&P 500 were higher after six straight losses while the Nasdaq Composite rose for a second straight session. All 11 sectors on the S&P 500 gained ground, led by the energy group. Oil prices rose after US weekly crude stockpiles unexpectedly fell by 200,000 barrels.

☆ European gas prices jump after Gazprom warns it could cut its last flows Europe, amid worries about apparent Nord Stream sabotage
▼ + stars: | 2022-09-28 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Denmark said the Nord Stream 1 pipeline gas leaks in the Baltic Sea were likely deliberate sabotage. European natural gas benchmarks jumped above 200 euros )$191.56) early Wednesday due to worries about the risks to gas supplies to Europe. The region is already facing an energy crisis after Russia choked off flows via the key Nord Stream 1 pipeline. Investors meanwhile were monitoring developments after recent damage to the Nord Stream 1 and Nord Stream 2 pipelines, which are leaking natural gas into the Baltic Sea. The US Central Intelligence Agency warned Germany weeks ago about potential attacks on Nord Stream, German magazine Der Spiegel reported Tuesday.

☆ German lawmakers break Europe's silence on suspected Nord Stream pipeline saboteur to point the finger at Russia
▼ + stars: | 2022-09-28 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Two senior German lawmakers have pointed the finger at Russia over suspected sabotage of Nord Stream. European lawmakers had previously left open the question about who the suspected Nord Stream saboteur could be. On Monday, Danish and Swedish authorities detected three severe leaks affecting the four Nord Stream pipelines, which run from Russia to Germany through the Baltic Sea. Before Russia invaded Ukraine, Nord Stream was intended as the main artery for natural-gas exports from Russia to Europe. The US Central Intelligence Agency warned Germany weeks ago about potential attacks on Nord Stream, German magazine Der Spiegel reported Tuesday.

☆ Gas is pouring out of the Nord Stream pipelines. Here’s what you need to know
▼ + stars: | 2022-09-28 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

London CNN —Western nations have said leaks in two Russian gas pipelines, Nord Stream 1 and 2, are likely the result of sabotage. What happened on the Nord Stream pipelines? Swedish authorities first sounded the alarm on Tuesday about leaks in the Nord Stream 1 and Nord Stream 2 pipelines – both of which run under the Baltic Sea near Sweden and Denmark. The two Nord Stream pipelines designed to transport Russian gas to the EU were years in the planning. The damage to the Nord Stream pipelines may spell an ignominious end for the 25-year project, at least for the near future.

A senior Ukrainian official called the incident a Russian attack to destabilise Europe, without giving proof. Neither pipeline was pumping gas to Europe at the time the leaks were found, but the incidents will scupper any remaining expectations that Europe could receive fuel via Nord Stream 1 before winter. Operator Nord Stream said the damage was "unprecedented". CUTTING SUPPLIESRussia reduced gas supplies to Europe via Nord Stream 1 before suspending flows altogether in August, blaming Western sanctions for causing technical difficulties. The new Nord Stream 2 pipeline had yet to enter commercial operations.

But it remained far from clear who might be behind any foul play, if proven, on the Nord Stream pipelines that Russia and European partners spent billions of dollars building. Register now for FREE unlimited access to Reuters.com RegisterPoland's prime minister blamed sabotage for the leaks, without citing evidence. Russia, which slashed gas deliveries to Europe after the West imposed sanctions over Moscow's invasion of Ukraine, also said sabotage was a possibility and that the leaks undermined the continent's energy security. CUTTING SUPPLIESRussia reduced gas supplies to Europe via Nord Stream 1 before suspending flows altogether in August, blaming Western sanctions for causing technical difficulties. The Swedish Maritime Administration (SMA) said two leaks on Nord Stream 1, one in the Swedish economic zone and another in the Danish zone, were northeast of Denmark's Bornholm.

However, it remained far from clear who might be behind any foul play, if proven, on the Nord Stream pipelines that Russia and European partners spent billions of dollars building. Poland's prime minister blamed sabotage for the leaks, without citing evidence, while the Danish premier said it could not be ruled out. Operator Nord Stream said the damage was "unprecedented". CUTTING SUPPLIESRussia reduced gas supplies to Europe via Nord Stream 1 before suspending flows altogether in August, blaming Western sanctions for causing technical difficulties. The new Nord Stream 2 pipeline had yet to enter commercial operations.

"The destruction that occurred on the same day simultaneously on three strings of the offshore gas pipelines of the Nord Stream system is unprecedented," said network operator Nord Stream AG. Gazprom (GAZP.MM), the Kremlin-controlled company with a monopoly on Russian gas exports by pipeline, declined to comment. Danish Defence Command/Handout via REUTERS Read MoreRussia slashed gas supplies to Europe via Nord Stream 1 before suspending flows altogether in August, blaming Western sanctions for causing technical difficulties. The new Nord Stream 2 pipeline had yet to enter commercial operations. European gas prices rose on the news of the leaks, with the benchmark October Dutch price up almost 10% on Tuesday.

☆ Mystery leaks hit Russian undersea gas lines, raising European suspicions
▼ + stars: | 2022-09-27 | by ( ) www.nbcnews.com time to read: +3 min

European countries on Tuesday raced to investigate unexplained leaks in two Russian gas pipelines running under the Baltic Sea near Sweden and Denmark, infrastructure at the heart of an energy crisis since Russia’s invasion of Ukraine. “The destruction that occurred on the same day simultaneously on three strings of the offshore gas pipelines of the Nord Stream system is unprecedented,” said network operator Nord Stream AG. Gazprom, the Kremlin-controlled company with a monopoly on Russian gas exports by pipeline, declined comment. Russia slashed gas supplies to Europe via Nord Stream 1 before suspending flows altogether in August, blaming Western sanctions for causing technical difficulties. The new Nord Stream 2 pipeline had yet to enter commercial operations.

☆ Nord Stream: Mystery leaks hit Russian gas pipelines to Europe
▼ + stars: | 2022-09-27 | by ( ) edition.cnn.com time to read: +4 min

Sweden’s Maritime Authority issued a warning about two leaks in the Nord Stream 1 pipeline, shortly after a leak on the nearby Nord Stream 2 pipeline was discovered that had prompted Denmark to restrict shipping in a five nautical mile radius. “The destruction that occurred on the same day simultaneously on three strings of the offshore gas pipelines of the Nord Stream system is unprecedented,” said network operator Nord Stream AG. Gazprom, the Kremlin-controlled company with a monopoly on Russian gas exports by pipeline, declined comment. Russia slashed gas supplies to Europe via Nord Stream 1 before suspending flows altogether in August, blaming Western sanctions for causing technical difficulties. The new Nord Stream 2 pipeline had yet to enter commercial operations.

Security walks in front of the landfall facility of the Baltic Sea gas pipeline Nord Stream 2 in Lubmin, Germany, September 19, 2022. "Yesterday, a leak was detected on one of the two gas pipelines between Russia and Denmark - Nord Stream 2. Russia slashed gas supplies to Europe via Nord Stream 1 before suspending flows altogether in August, blaming Western sanctions for causing technical difficulties. 'EXTRA WATCH'"There are two leaks on Nord Stream 1 - one in Swedish economic zone and one in Danish economic zone. It said the gas leak would only affect the environment locally, which means that only the area where the gas plume in the water column is located would be affected.

☆ Gazprom says group's first half core earnings more than doubled to $53 billion
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

The logo of Gazprom is displayed on a screen during the Saint Petersburg international gas forum in Saint Petersburg, Russia September 15, 2022. REUTERS/Anton VaganovMOSCOW, Sept 27 (Reuters) - Russian gas giant Gazprom Group's (GAZP.MM) earnings before interest, taxes, depreciation and amortisation more than doubled in the first six months of the year to 3.05 trillion roubles ($52.54 billion), the company said on Tuesday. It also said its average exporting gas price rose more than 3.5 times in the same period of this year. Gazprom reported last month that it made a record 2.5 trillion roubles in net profit in the first half of 2022 and its board recommended paying interim dividends after skipping the annual payout for the first time since 1998. read more($1 = 58.0500 roubles)Register now for FREE unlimited access to Reuters.com RegisterReporting by Reuters; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Gas leak at Nord Stream 2 as seen from the Danish F-16 interceptor on Bornholm, Denmark September 27, 2022. But since both Nord Stream pipelines contained mostly methane, "the potential for a massive and highly damaging emission event is very worrisome", McCabe said. Scientists say sharp cuts in methane emissions over the next few years will be a vital lever in curbing climate change. Releasing that amount in entirety to the atmosphere would result in around 200,000 tonnes of methane emissions, said chemical engineer Paul Balcombe at London's Queen Mary University. ENVIRONMENTAL RISKWhile oil spills can immediately affect and ultimately kill wildlife, authorities say the gas pipeline gas leaks pose a limited threat to the surrounding plant and animal life.

☆ Sabotage suspected after unexplained leaks found on major Russian gas pipelines
▼ + stars: | 2022-09-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

View of pipe systems and shut-off devices at the gas receiving station of the Nord Stream 2 Baltic Sea pipeline. Investigations are taking place into unexplained leaks affecting both the Nord Stream 1 and 2 pipelines, which bring natural gas from Russia to Europe via the Baltic Sea. Neither pipeline was pumping gas at the time of the leaks: Nord Stream 1 stopped pumping gas to Europe "indefinitely" earlier this month, with Moscow's operator saying international sanctions on Russia prevented it from carrying out vital maintenance work. The newer pipeline Nord Stream 2, meanwhile, has never officially opened as Germany refused to certify it for commercial operations due to Russia's unprovoked invasion of Ukraine. "It is not yet possible to estimate the timing of the restoration of the gas transport infrastructure," it added.

☆ Russia's settlement depository demands EU sanctions be recognised as unlawful
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe NSD filed a lawsuit at the European Court of Justice in Luxembourg on Aug. 12, but gave no further details. The EU sanctions on the NSD, as well as other Western measures aimed at restricting Russia's access to global financial infrastructure, have blocked many Russian investors' access to securities held in jurisdictions outside Russia. The NSD said that sanctions had been imposed based on "unsubstantiated" facts and that the Council had "failed to meet the required standard of proof", making the sanctions unlawful. Russian Eurobond issuers have started issuing securities to replace those stuck abroad due to sanctions imposed on Moscow for what it calls a "special military operation" in Ukraine. Register now for FREE unlimited access to Reuters.com RegisterReporting by Elena Fabrichnaya and Alexander Marrow, editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

A pressure gauge is seen at the landfall facility of the Baltic Sea gas pipeline Nord Stream 2 in Lubmin, Germany, September 19, 2022. "Overnight the Nord Stream 2 landfall dispatcher registered a rapid gas pressure drop on Line A of the Nord Stream 2 natural gas pipeline," Nord Stream 2's operator said in a statement. European countries have resisted Russian calls to allow the Nord Stream 2 pipeline to operate and accused Moscow of using energy as a weapon. Gazprom (GAZP.MM) referred questions about the incident to the Nord Stream 2 operator. Russia has cut off gas supplies to several countries and also halted flows through the Nord Stream 1 pipeline, blaming Western sanctions for hindering operations.

☆ Russia's Gazprom to keep gas supply to Europe via Ukraine stable on Sunday
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: 1 min

Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.

☆ Russia's ramped-up gas squeeze means an even deeper recession for Europe — and a sharp winter will pile on the pain, Deutsche Bank warns
▼ + stars: | 2022-09-24 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Russia's indefinite shut-off of a key natural gas pipeline has intensified Europe's energy crisis. In July, Russia's Gazprom slashed its natural gas deliveries to Europe via the Nord Stream 1 pipeline to 20% of capacity. Lower gas supply has sent European natural gas prices soaring, with benchmark Dutch TTF futures up 128% since the start of June. And there could be further pain ahead for Europe this winter if there's a severe cold snap, Deutsche Bank warned. While things might improve in the medium term, there will still be tight gas supply and high prices, they said.

☆ Russia plans to slash 40% of its natural gas flows - with Europe already facing an energy crisis from its cuts
▼ + stars: | 2022-09-23 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Russia plans to cut its natural gas exports by 40% over the next three years, according to documents seen by Bloomberg. Moscow will cut gas exports to around 125.2 billion cubic meters in 2023-2025, potentially exacerbating Europe's energy crisis. That's down from an estimated 142 billion cubic meters this year. Senior European Union officials have accused Russian President Vladimir Putin of "weaponizing" energy flows in a bid to stoke the continent's energy crisis. Read more: This map shows where Europe gets its natural gas - and why economic disaster is looming if Russia cuts off its fuel supply

☆ Hungary and Russia hold talks on gas, nuclear plant
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Gazprom (GAZP.MM) started to ramp up gas supply to Hungary last month, adding to previously agreed deliveries under a long-term supply deal via the Turkstream pipeline. Russia supplies Hungary with most of its oil and gas needs. "Our national interests dictate that we should pursue a reliable and predictable cooperation with Russia, with Gazprom, as without this, Hungary's natural gas supply would not be secure," Szijjarto said. Szijjarto said Hungary had received another shipment of nuclear fuel for the Paks plant from Russia. Hungary aims to expand the plant with two Russian-made VVER reactors with a capacity of 1.2 gigawatts each.

☆ Rouble surges, stocks fall as Russia holds Ukraine referendums
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado RuvicSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. Sept 23 (Reuters) - The Russian rouble surged to new multi-week highs on Friday while stocks fell in volatile trade as Moscow mobilises some 300,000 extra troops for the conflict in Ukraine. But Russian stocks were deep in the red as markets remain jittery over how Russia's mobilisation drive will affect the conflict. Russian shares have seen heightened volatility all week in response to the mobilisation order and as Moscow stages referendums in four regions of Ukraine on joining Russia. For Russian equities guide seeFor Russian treasury bonds seeRegister now for FREE unlimited access to Reuters.com RegisterReporting by Jake Cordell.

☆ HSBC warns investors to avoid European stocks
▼ + stars: | 2022-09-23 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Fog shrouds the Canary Wharf business district including global financial institutions Citigroup Inc., State Street Corp., Barclays Plc, HSBC Holdings Plc and the commercial office block No. Dan Kitwood | Getty Images News | Getty Imageswatch now"We think that the emphasis should be on quality. With earnings season set to kick off in earnest next month, analysts broadly expect earnings downgrades to dominate worldwide in the short term. This need was exacerbated early this month when Russia's state-owned gas giant Gazprom cut off gas flows to Europe via the Nord Stream 1 pipeline. "The energy needs of the European chemical industry were equivalent to 51 million tonnes of oil in 2019.

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