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About Commodity Insights
05 Oct 2022 | 08:37 UTC
Highlights
Operator blames delay on lack of requested approvals
Waiting for Danish authorities to process application
Two leaks detected on 55 Bcm/year gas pipeline system
The operator of the Nord Stream gas pipeline from Russia to Germany is unable to inspect damaged caused to the two-string link because it has not yet received the relevant approvals, it said late Oct. 4.
Two leaks were detected in late September on both strings of Nord Stream, while two other leaks were also detected on the parallel Nord Stream 2 system, all of which have been widely attributed to acts of sabotage.
"As of today, Nord Stream AG is unable to inspect the damaged sections of the gas pipeline due to the lack of earlier requested necessary permits," it said in a statement.
Nord Stream AG said that in line with its expectations, the pressure in both lines of Nord Stream had stabilized as of Oct. 3.
Russia's Gazprom -- which holds a 51% stake in Nord Stream AG -- also said Oct. 3 that pressure in both strings of the Nord Stream pipeline and one of the strings of the Nord Stream 2 pipeline had been stabilized and gas leaks stopped.
However, Nord Stream AG said it could not yet begin to implement plans to inspect the damage.
Sweden, it said, had imposed a ban on shipping, anchoring, diving, the use of underwater vehicles, and geophysical mapping while it conducted a state investigation into the damage.
In addition, Denmark had informed Nord Stream AG that the processing time of its request for a survey may take more than 20 working days.
Finally, Nord Stream AG said, the owner of the appropriately equipped survey vessel it had chartered still did not have approval from the Norwegian foreign ministry to depart.
Neither Nord Stream nor Nord Stream 2 were flowing gas to Europe at the time of the incidents, but the leaks have led to concern over the possibility of further attacks on key European energy infrastructure.
They have prompted European efforts to bolster energy infrastructure security, with Norway in particular increasing security around its offshore oil and gas installations and pipelines.
Despite the fear of further sabotage of key European gas infrastructure, European gas prices have come down from their late August record highs.
Platts, part of S&P Global Commodity Insights, assessed the Dutch TTF month-ahead price at Eur162.53/MWh on Oct. 4, almost half the all-time high of Eur319.98/MWh on Aug. 26.