Russia again cuts natural gas exports thru European pipeline

By GEIR MOULSON
Associated Press

BERLIN (AP) — Russia’s Gazprom has announced a reduction in natural gas flows through a key European pipeline for the second day in a row. The move Wednesday came just hours after Germany’s vice chancellor said Russia’s initial gas reduction appeared to be political rather than a result of technical problems. The state-owned energy giant Gazprom said on Twitter that gas deliveries through the Nord Stream 1 undersea pipeline to Germany would be cut again Thursday, bringing the overall reduction in deliveries through the pipeline to 60%. One energy expert said Russia is playing a very deliberate strategy to drive up gas prices in the short-term and to remind big energy importers like Germany and Italy what they have to lose in the long term.