Norwegian Energy Minister Osland fears a serious rise in energy prices without Nord Stream
MURMANSK, July 15 – PRIME. If gas transportation via Nord Stream is not resumed after planned work, Norway could face serious consequences, including an unprecedented increase in electricity prices, said Minister of Oil and Energy Terje Osland.
„If the gas pipeline, through which energy carriers are transported from Russia to Germany, is not launched again, there will be even more problems. It is highly likely that prices will skyrocket,” Europower reports his words.
According to the minister, there is already a risk of electricity rationing in Norway. So far, it is small, but such a measure can have serious consequences. Osland stressed that high production and uninterrupted energy supplies to Europe protect Norway from having to take such a step.
Gazprom last month reduced supplies via Nord Stream by up to 40%, explaining this by delays in the return of turbines after repairs by Siemens. Since July 11, fuel pumping through this line has been suspended due to scheduled maintenance, which is due to be completed on July 21. However, some European countries, including Germany and Austria, have expressed concerns that deliveries may decrease after the work or stop altogether.