Gazprom declares force majeure on some European gas (OTCMKTS:OGZPY)
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Gazprom (OTCPK:OGZPY) has declared force majeure on gas supplies to Europe to at least one major customer, Reuters reported on Monday, citing a letter in which the Russian gas giant said it could not meet its supply obligations because of “extraordinary” circumstances beyond its control.
German utility Uniper (OTC:UNPPY) has formally rejected Gazprom’s force majeure declaration, saying the claim is unjustified, according to Handelsblatt.
Over the weekend, Gazprom (OTCPK:OGZPY) said it had asked for documents from Siemens (OTCPK:SIEGY) that would allow the return of a gas turbine crucial for the Nord Stream 1 pipeline to be returned to Russia.
While one of the six major turbines required for the pipeline to operate at full capacity is stranded in Canada, Gazprom (OTCPK:OGZPY) claims not all of the turbines in Russia are in working condition, since they are due for maintenance at manufacturer Siemens’ facility in Montreal.
Gazprom (OTCPK:OGZPY) cut gas deliveries through the Nord Stream 1 pipeline to Germany by 60% last month.
Flows on the Nord Stream 1 gas pipeline are halted for maintenance work due to end on July 21, and German officials are concerned that Russia may not resume gas deliveries at all.
