European energy markets are holding their breath as Nord Stream pipeline which transfers natural gas from Western Russia to Europe has stopped its gas flows for ten days.
A few days ago, it was officially announced that the pipeline will temporarily shut down for “routine maintenance works”, including testing of mechanical elements and automation systems.
However, officials and governments have already raised their concerns over what will happen next after the maintenance work.
Robert Habeck, German Vice-Chancellor and Economy Minister told the broadcaster Deutschlandfunk: “Everything is possible, everything can happen. It could be that the gas flows again, maybe more than before. It can also be the case than nothing comes.
“We need to honestly prepare for the worst-case scenario and do our best to try to deal with the situation.”
Last week, a report by the Centre for Economics and Business Research suggested turning off the Russian gas taps completely could put the UK’s energy security at risk.
In an interview, Klaus Mueller, head of Germany’s energy regulator Bundesnetzagentur, said: “As expected, Nord Stream 1 is at zero since this morning.
“What happens at the end of the maintenance, nobody is able to say at this moment. We won’t know any time sooner than a day before it’s scheduled end.”