Nord Stream Pipelines “Unusable Forever,” Fourth Leak Discovered As Russia And Europe Trade Blame

Natural gas–the very resource Europe is scrambling to store ahead of the winter cycle–is now freely bubbling up the Baltic Sea from four ruptures on the Nord Stream pipelines.

While Sweden’s Coast Guard reported two leaks in the pipelines the same time that Denmark discovered the other two leaks within its exclusive economic zone, only one leak near the Swedish zone was widely reported–resulting in this belatedly reported fourth leak.

Source: The Guardian

Russia has closed down Nord Stream 1 indefinitely since the start of September and Nord Stream 2 has never been fully operational. But both links are loaded with natural gas reserves, which are now being expelled into international waters.

Copenhagen estimates that the pipelines will empty up its gas by Sunday. Experts say the conduits will be harder to repair once the gas will be replaced with seawater.

As reported by German daily Tagesspiegel, Berlin security agencies are saying that the damage sustained by the pipelines made them “unusable forever.”

There’s a growing consensus from both sides of the pipelines that the leaks were caused by targeted attacks, although they differ on the state actor to blame. The Swedish National Seismology Centre recorded “powerful subsea blasts” on Tuesday around the area of the leaks, strengthening the theory on sabotage.

Russia is blaming the West for the supposed attack, saying that the blasts happened in territory “fully under the control” of US intelligence agencies.

“It happened in the trade and economic zones of Denmark and Sweden,” Russian foreign ministry spokeswoman Maria Zakharova said in a broadcast, also referring to the Nordic countries as “NATO-centric countries”.

The Kremlin also called the leaks as an “act of state terrorism.”

On the other hand, in a joint letter to the UN Security Council, the two nations said the blasts are “probably caused by explosions equivalent to several hundred kilos of explosives.”

Several nations have also pronounced that the leaks were “deliberate” in nature, also theorizing sabotage. Finland previously said that only a state actor could be capable of acts on such a scale while Poland is pointing fingers at Russia who weaponized its gas exports in retaliation to the Ukraine war-related sanctions it is sustaining.

Dutch gas futures benchmark saw a sharp jump in price following the reports of the leaks, breaching the €210-mark. While it has gone down gradually over the week, the discovery of the fourth leak sent the price jumping back above the €200-mark.

Source: Trading Economics

Information for this briefing was found via Bloomberg, The Guardian, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

European Governments Considering Billions in Aid as Energy Crisis Deepens

Out-of-control energy prices are forcing European governments to consider billions of euros in financial aid...

Thursday, September 23, 2021, 02:45:00 PM

Canada Returns Repaired Russian Turbine As Nord Stream Undergoes Maintenance

Canada has completed repairs and sent back a Russian turbine crucial for the shipment of...

Monday, July 18, 2022, 04:52:00 PM

European Natural Gas Prices EXPLODE Wednesday As Hyperinflation Accelerates Across Energy Markets

Natural gas prices across Europe took a sharp turn for the worse, as Dutch and...

Thursday, October 7, 2021, 04:16:00 PM

BP Shuts UK Fuel Stations Amid Truck Driver Shortage as Europe’s Energy Crisis Worsens

It appears that Europe’s energy crisis is about to get a lot worse. Oil company...

Friday, September 24, 2021, 02:32:00 PM

The Nord Stream Pipeline Theory No One Wants To Talk About

Joining SmallCapSteve today is Deep Dive contributor Braden Maccke. He sits down with Steve to...

Friday, October 14, 2022, 01:30:00 PM