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Arthur T Knackerbracket has processed the following story:
Russia’s Gazprom has told customers in Europe that it cannot guarantee gas supplies because of “extraordinary” circumstances, according to a letter seen by the Reuters news agency, upping the ante in an economic tit-for-tat with the West over Moscow’s invasion of Ukraine.
The Russian state gas monopoly said in a letter dated July 14 that it was retroactively declaring force majeure on supplies from June 14. The news comes as Nord Stream 1 (NS1), the key pipeline delivering Russian gas to Germany and beyond, is undergoing 10 days of annual maintenance scheduled to conclude on Thursday.
The letter added to fears in Europe that Moscow may not restart the pipeline at the end of the maintenance period in retaliation for sanctions imposed on Russia over the war in Ukraine, heightening an energy crisis that risks tipping the region into recession.
Known as an “act of God” clause, force majeure is standard in business contracts and defines extreme circumstances that release a party from their legal obligations. The declaration does not necessarily mean that Gazprom will stop deliveries, rather that it should not be held responsible if it fails to meet contract terms.
[...] Russian gas supplies have been declining via major routes for some months, including via Ukraine and Belarus as well as through the Nord Stream 1 pipeline under the Baltic Sea.
[...] The grace period for payments on two of Gazprom’s international bonds expires on July 19, and if foreign creditors are not paid by then the company will be technically in default.
(Score: 2) by legont on Friday July 22 2022, @01:10AM (2 children)
It's ready and does not pump gas simply because Germany does not want it.
I wonder how it's explained to Germans.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.
(Score: 3, Touché) by stretch611 on Friday July 22 2022, @08:33AM (1 child)
Its likely explained to the Germans as a pipeline that sends all its profits to a hitler type dictator who cares more about his own ego than the lives of millions of civilians.
Now with 5 covid vaccine shots/boosters altering my DNA :P
(Score: 3, Troll) by Rich on Friday July 22 2022, @12:28PM
It's not explained at all. There is near zero mention of the option on mainstream. Recently, right-wing populist party AfD called for using it, but that went past without any further comment or consideration of either politicians or media. The last notable mention of NS2 was a few months ago and went like "We can't use it, because it's not certified, and anyway, the holding structures are a mess, and we don't even know if the companies who operate it still exist."
Instead, the last two weeks were full of headlines: "Will Putin cut our gas off and make us freeze? Who will freeze first? Will police come into your house and check your swimming pool temperature? Some people think the Russians lie about that turbine from Canada". Which I think is silly, because the Russians want our money, the more, the better.
If they really want to become independent from fossils, what would be needed on the part of the German government would be a somewhat totalitarian masterplan to force the "Energiewende" and become renewable net positive into a few years. Like ("all have to put in their share") declaring every town that objects to nearby windmills as a nuclear waste facility, and putting a CASTOR on the town square, with mandatory guard duty for all inhabitants. Put a duty draft on anyone sociologist for rooftop solar installations (and let the job sort them out). That kind of stuff. But that's not going to happen, the government is mostly dysfunctional.