European Natural Gas Prices Set To Soar Following Nord Stream Shutdown

The European Union is bracing for more gas pain after Gazprom said Nord Stream 1 will remain shut down indefinitely, with prices expected to break another record today. Russia’s Gazprom said on Friday it would not restart gas flows via the Nord Stream 1 pipeline because it had discovered a fault—and oil leak—that required repairs. The company said it could not say when the pipeline will restart. Siemens Energy, which normally does maintenance on Nord Stream 1 said such leaks are no obstacle to the normal running of compressor…