Gazprom CEO says 'no solution' to Nord Stream 1 equipment issue

CEO Alexey Miller said sanctions were preventing the company from getting the equipment back. European companies, including Italy's ENI (ENI.MI), Austria's OMV and Germany's Uniper reporting significant falls in supply of Russian gas on Wednesday and Thursday. The Kremlin said on Thursday that the reduction in supply was not premeditated.

Gazprom sees no solution to an ongoing equipment issue at the Portovaya compressor station, part of the Nord Stream 1 pipeline that carries Russian gas to Germany, its CEO said on Thursday.

Gazprom has cut the capacity along the Nord Stream 1 pipeline to just 40% of usual levels in recent days citing the delayed return of equipment being serviced by Germany's Siemens Energy in Canada. CEO Alexey Miller said sanctions were preventing the company from getting the equipment back. Germany dismissed that explanation as "unfounded".

He noted the company has lots of equipment for the pipeline which is due to undergo major maintenance next month and lambasted Siemens for being "silent" over the issue. European companies, including Italy's ENI (ENI.MI), Austria's OMV and Germany's Uniper reporting significant falls in supply of Russian gas on Wednesday and Thursday.

The Kremlin said on Thursday that the reduction in supply was not premeditated.