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Monday 18 July 2022 4:36 pm  |  Updated:  Monday 18 July 2022 6:08 pm

Ukraine’s President Zelensky slams Canada’s decision to send wind turbine for Russian pipeline

By: Nicholas Earl

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Future Of Nord Stream 2 Pipeline Uncertain As EU-Russia Tensions Over Ukraine Persist

Ukraine’s President Voldomyr Zelensky has criticised Canada’s decision to deliver a wind turbine to Gazprom, so that it could fulfil repairs on the key Nord Stream gas pipeline.

He warned that “Ukrainians will never accept Canada’s decision” to hand over the turbine in breach of the sanctions regime imposed on Russia.

In a video address, Zelensky said: “This is not just about the turbine. This is about complying with sanctions. If there is one violation now, it’s only a matter of time before others will follow. Russia is doing this on purpose, blackmailing others with gas and provoking sanction breaches.”

The head of state further argued there were already enough routes for the transit of Russian gas to Europe – even if Nord Stream 1 continued to suffer shortfalls in output,

Canada’s Natural Resources Minister Jonathan Wilkinson revealed last weekend that a temporary export permit was granted for the turbine after lengthy discussions with European allies and the International Energy Agency.

The Siemens turbine is required by the company to properly service the pipeline and potentially bring gas flows back to full capacity.

Nord Stream 1 is currently undergoing planned annual maintenance, which is due to be completed on July 21.

Gazprom revealed on Saturday it expected Siemens to meet its obligations in full when servicing gas turbines needed for the reliable operation of the Nord Stream gas pipeline and energy shipments to Europe.

The return of the turbine from Canada to the Russian Portovaya compressor station, first reported in Kommersant newspaper, has been in focus for the past month since Russian energy producer Gazprom cut gas supplies to Germany by 60 per cent.

Read more

Donald Trump is creeping towards a shrewd sanctions policy

Donald Trump holding a red TRUMP 2028 hat, wearing a tuxedo with an American flag in the background

This triggered bailout talks with utility giant Uniper, and resulted in Germany’s government activating the second of its three-phase emergency plan that could eventually lead to it confiscating and distributing energy supplies.

Europe suffered shortfalls in Russian gas supplies prior to the country’s invasion of Ukraine, but the Kremlin has imposed retaliatory measures to Western sanctions in recent weeks which have put severe pressure on the continent.

It has cut off supplies to 12 European Union (EU) countries which refused to adhere to demands for rouble payments, and has warned of rouble payments requirements for other commodities such as wheat and oil.

In a bid to stave off potential blackouts and supply shortages this winter, the EU has pushed member states to top-up storage capacity to at least 80 per cent ahead of winter.

Currently, it sits at just over 64 per cent, according to iGas.

Meanwhile, the International Energy Agency has warned Europe must take immediate steps to reduce gas consumption ahead of the winter.

It has urged governments to cap air conditioning use and start auctioning gas to industry or risk rationing during the coldest months.

Fatih Birol, chief executive of Paris-based agency, warned that cuts to Russian supplies meant European efforts so far were falling short and urged governments to “make every remaining day count” with efforts to fill gas storage facilities over the next three months.“

Read more

Options Announces CIX Trading, Canada’s Newest Alternative Trading System (ATS)

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