Siemens Energy said a gas turbine that powers a compressor station on the pipeline had been in service for more than 10 years and had been taken to Montreal for a scheduled overhaul. It did not provide a timeline for the planned drop in gas flows. вЂњGas supplies to the Nord Stream gas pipeline can currently be provided in the amount of up to 100 million cubic meters per day (compared to) the planned volume of 167 million cubic meters per day,вЂќ Gazprom said in a statement. Gas demand has fallen after the end of the winter heating season, but European utilities are racing to refill storage ahead of next winter with prices high and supplies uncertain. High energy prices are already contributing to record inflation of 8.1% in the 19 countries that use the euro. Economists say a complete cutoff would deal a severe blow to the economy, consumers and gas-intensive industries. The European Union has outlined plans to reduce dependence on Russian gas by two-thirds by year's end. Spot gas prices rose in Europe, a sign of jitters over possible further effects of the war on supplies of Russian gas, which powers industry and generates electricity on the continent. The Federal Network Agency said it was monitoring the situation. Germany's utility network agency said it did not see gas supplies as endangered and that reduced flows through the Nord Stream 1 pipeline under the Baltic Sea aligned with commercial behavior and Russia's previously announced cutoff of gas to Denmark and the Netherlands, the German news agency dpa reported. Russian natural gas deliveries through a key pipeline to Europe will drop by around 40% this year, state-controlled energy giant Gazprom said Tuesday, after Canadian sanctions over the war in Ukraine prevented German partner Siemens Energy from delivering overhauled equipment.

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