RUSSIA Shoots Itself in the Foot as NORDSTREAM 1 Pipeline to Germany is CLOSED & Shut Down Starts

Please Support The Channel:
YouTube Super Thanks (click below)
YouTube Membership (click below)
Click thro the link, buy your items as normal and Amazon will pay me a small commission

The NORD STREAM Pipeline supplies around 60 BILLION CUBIC METERS of Russian Gas to Germany each year which equates to around 40% of all of the Gas Imported by Germany. Russia has now announced that the Pipeline has been SWITCHED OFF INDEFINITLEY due to a Maintenance Problem. This is the second time that Russia has SWITCHED OFF the Gas Supply and concern is now Rising in Germany that Russia will take this opportunity to PERMANENTLY SWITCH OFF THE SUPPLY. In this video I provide details of what has been happening and asses the impact for EUROPE, RUSSIA & the GLOBAL ECONOMY if the supply does not return.

For specific details please check out the CHAPTER list below.

Thanks for watching and please LIKE and SUBSCRIBE.

If you like this video and are would like to buy me a coffee please click the link below. THANK YOU it is very much appreciated.

Chapters:
0:00 Intro
3:09 NORDSTREAM PIPELINE
4:26 NORDSTREAM CLOSURE
5:41 STORAGE LEVELS
8:49 STORAGE CAPACITY
13:23 GAS PRICE CAP
15:31 EUROPEAN INITIATIVES
17:11 SUMMARY & CONCLUSION

#UKRAINE
#russia
#nordstream
#GAS
#POLAND
#GLOBALFINANCIALCRISIS
#RUBLE
#SWIFT
#RECESSION
#CHINA
#USA
#NATO
#WW3
#WORLDWAR3

[Filisteu]

Joe, Portugal doesn't use Gas from Russia, never has. Portugal and Spain are not dependant of Russia, so we are not at risk, we are too far from Russia so we use pipelines from North África and LNG provided by other countries.

[hybridarmyoffreeworld]

The Norwegian gas interconnection to Denmark went online last month. The Norwegian feed to Poland is supposed to be commissioned next month. Send Ukrainians everything they need to reclaim 2014 borders. Slava Ukraine ! with Love From Sweden !

[miketravis]

Thanks for all the research and hard work.

[josecamacho]

Hi Joe, Portugal and Spain get most of their gas from Algeria, by pipeline, so I think their position is more comfortable than what you said.

[allangibson]

The Norwegian gas interconnection to Denmark went online last month. The Norwegian feed to Poland is supposed to be commissioned next month.

[storyteller]

Portugal doesn't use any Russian gas, and already has LPG capability. In fact there is the discussion of Portugal and Spain extending their piping to the rest of Europe.

[KuleRucket]

When I visit Austria each winter, one of the things that always stands out is the ridiculous levels that pensions/hotels keep their heating. They all seem to heat at 25°C all through the night and it's impossible to sleep without opening a window. They seriously need to take a look at their heating settings this winter.

[jorgebarreiros]

As others said, Portugal has minimal dependency on Russian gas (about 5-7% iirc), most is imported from north africa. Also, it has a coastline with fully operational LNG facilities.

[Gargoiling]

Probably stating the obvious but in many ways the problem didn't start with the invasion. Basically, Russia has started applying to Western Europe a policy which it has been using on what it sees as its satellites for decades (any time countries like Moldova did something it didn't like, it suddenly hiked prices or there would be a "technical" hitch with supply. It's not an economic point but I just want to emphasise that. a. We should have known Russia saw gas as a potential weapon. b. We shouldn't assume it will stop doing it if we make nice. If we demonstrate by giving in that the weapon is effective, it'll keep using it.

[holgerhaas]

Germany reduced Russian gas imports to 10% (before the latest shutdown of NS1). At the same time the reserves are filling up quicker than the years before when Russia delivered 50% of imports. This means Germany is already importing roughly the same amount of gas as before the war - now from different sources. Everything will be fine.

[renawake]

Hi Joe, thanks for your blog that I accidentally stumbled over.

However, you made a small mistake regarding Portugal.

Portugal and Spain will not run out of gas during winter as they have two gas pipelines directly connected to the north African gas fields.

Furthermore, Spain and Portugal have eight extensive LPG facilities.

The problem in the EU - is that despite many years of discussions, are Spain and Portugal still not connected to the intra-European gas network.

Perhaps this will happen now!

[frankhayes]

The biggest issue is the fact that we are in all but name at war with Russia and yet the social disconnect between the populations of Europe and this reality is enormous. The people in Western Europe seem to think it is 'business as usual' and have far greater interest in their latte coffees, foreign holidays, restaurant meals and other nonsense. There is war in Europe knocking at our door and it is about time Western governments prepared their populations for reality of the hardships and tribulations that are coming. For the West to complain that Russia is weaponising gas exports is the most infantile political response I have ever heard - we have been trying to destroy the Russian economy for 6 months and yet complain when Russia takes similar action. We really do need to grow up and develop a backbone.

[TMM-N]

Ursula EU: we will wean ourselves from russian gas
russia: let me help you
Eu: You are weaponizing gas!

[UncoolerMartin]

As an Austrian I want you to understand an important fact: 65% of full storage is more than most other countries have stored in relation to their annual consumption. Austria has huge storage capacities, so they even sell that capacity to other countries, who have no such things at all. So on the one hand, Austria has more gas stored now than other EU countries, but not all of that gas really belongs to Austria or Austrian companies. Actually, no one here can really tell what belongs to who.

[cryhavoc]

The weaponization of gas is such a risky strategy for Russia and it all boils down to one winter only. Past this winter, the strategy will no longer be relevant and Russia will then suffer the consequences of long-term developments and partnership programmes and the evidence of untrustworthiness. All the eggs in one, very rickety basket and then it is over.

[matthewgaines]

The data for when the EU runs out of gas assumes they do nothing (start up coal fired plants, conserve, LGN, forgo decommissioning nuclear plants). The EU isn’t going to do nothing.

Also the data assumes some nations don’t already have access to alternative NG and LNG supplies. Spain and Portugal don’t use Russian gas, so storage isn’t their problem. As long as they can afford to buy it, they can get it.

[dayros]

A note on Italy. The chart on gas reserves assumes that countries only relies on them and have no other gas supplies. Italy has 3 Lng regassificators plans in operation, is building 2 more but above all it has pipelines from Algeria, Libya, and Azerbaigian. Thanks to them 2/3 of the previous year russian gas imports have already been substituted. Russia is playing a losing game. This winter energy will be expensive for Europe but Russia in the future will have lost its best clients.

[Lena-vwye]

China’s JOVO Group, a big LNG trader, recently disclosed that it had resold an LNG cargo to a European buyer. A futures trader in Shanghai told Nikkei that the profit made from such a transaction could be in the tens of millions of dollars or even reach $100mn. China has practically been reselling Russian energy to Europe.

[mikloskallo]

The previous video ignored how big storage capacity is related to consumption. This one ignores other sources of gas when talking about what happens if the Russians turn it off. Also: yes, statistics can be misleading - if you apply them incorrectly.

[weidmann]

When Trump warned this would happen, the Germans smirked. I feel Schadenfreude coming on.