Fitch Ratings: EU Will Not Get More Pipeline Gas from Russia Until Year End

The European Union will not get natural gas via pipeline from Russia before the end of the year, Fitch Ratings is now assuming. The credit rating firm changed its natural gas outlook for the EU based on statements made by Russia’s President Vladimir Putin and other Russian officials, which indicated that the Nord Stream 1 (NS1) pipeline flows would remain offline until Russian sanctions are lifted. “Those with a high dependency on NS1 supplies and low immediate options to diversify gas sources, like Germany, have limited room for maneuver,”…