Europe’s natural gas supply has been dealt yet another hammer blow as Russian gas giant Gazprom announced earlier today that it will reduce its daily throughput of the Nord Stream 1 pipeline to Germany to 33 million cubic metres (m3) as of Wednesday, 27th July.
The news comes after Gazprom’s announcement in June that it would reduce flows through the pipeline to 40% capacity due to scheduled maintenance.
By reducing the throughput to 33mm3, flow will be slashed to just 20% of its original capacity, igniting fears of recession in a country already beset by soaring energy costs.
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