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BREAKING
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.
Sheikh Qassem: The government’s latest decision [on the disarmament of the Resistance] is non-charter-based, and if the government continues down this path, it is not faithful to Lebanon’s sovereignty.

Gas prices rise 5% more after Nord Stream 3-day suspension

  • By Al Mayadeen English
  • Source: Agencies
  • 31 Aug 2022 13:21
2 Min Read

Gas futures prices in Europe have reached approximately $2,900 per thousand cubic meters after Nord Stream supplies are halted for 3 days, growing by 5% on Wednesday. 

  • x
  • Nord Stream facility (Getty Images)
    Nord Stream facility (Getty Images)

Gas supplies via Nord Stream have fallen to zero cubic meters per hour on Wednesday, as the operation of the pipeline has been suspended for three days due to scheduled maintenance work at the Portovaya compressor station, according to data from gas transportation system operators.

Russian gas deliveries to Europe through the Nord Stream pipeline will cease from August 31 to September 2 for "maintenance", Russian energy giant Gazprom said Friday, raising the prospect of energy shortages in Europe.

"It is necessary to carry out maintenance every 1,000 hours" of operation, Gazprom said in a statement, adding, "On August 31, 2022, the only Trent 60 gas compression unit will be stopped for three days for maintenance" involving technicians from Germany's Siemens.

Last month July, Russian gas deliveries via the Nord Stream pipeline fell to 20% of their capacity and reached 1.3 million cubic meters per hour, which according to the operator Nord Stream AG, was due to the withdrawal of another Siemens turbine.

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At the end of this period, deliveries will be restored to a flow of 33 million cubic meters of gas per day, Gazprom mentioned.

Data showed that October futures for gas (TTF index) reached a high of $2,883.1 (+5%) as of 06:21 GMT, up from the previous settlement of $2,743.5. 

Gas futures prices in Europe earlier this month surpassed $3,500 per thousand cubic meters for the first time since March and futures (TTF hub) grew by 6.6% to $3,507.7 per thousand cubic meters. The settlement of the day before $3,290.2 became a record for the whole period of operation of gas hubs in Europe, since 1996.

In March, European gas futures reached an all-time high of over $3,600 per 1,000 cubic meters, according to the London-based ICE exchange.

Just two weeks ago, 40.9 million cubic meters of gas has been supplied by Russia's energy mogul Gazprom to the Sudzha entry point in Russia on Sunday for further transit to Europe, as verified by Ukraine, according to its spokesperson Sergey Kupriyanov.

  • Europe
  • Russia
  • gas
  • UK
  • Nord Stream

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