There’s panic on both sides of the Atlantic over the possibility of Europe experiencing severe gas shortages this winter, unnamed officials told the broadcaster.
“This was our biggest fear,” one of them confessed, warning that the impact of gas cuts in Europe could boomerang to the US, leading to a further spike in gas and electricity prices for American customers.
The whole situation is also going to become a major test of European resilience and unity against Russia, he added.
Gas prices in Europe reached $2300 per thousand cubic meters on Wednesday – the highest levels since March – after Russian gas giant Gazprom reduced deliveries through the Nord Stream 1 pipeline to 20% of its maximum capacity.
The company cited safety reasons for the move, saying that technical regulations required a turbine to be overhauled.
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