Why Russia drives Europe gas prices

Reduced supply: Pipes at the landfall facilities of the Nord Stream 1 gas pipeline in Germany. Russian gas that flows to Europe through this and other pipelines have fallen sharply in the first half of this year, bringing with it price rises. — Reuters

LONDON: The Nord Stream 1 pipeline that transports gas from Russia to Germany is undergoing planned maintenance, cutting gas supplies to Europe and raising concerns about a prolonged halt to supply.

Russia has already reduced production to 40% of the pipeline’s capacity, which has helped to push up European and British gas prices.