European Gas Notches Another Weekly Gain on Russia’s Tight Grip
- Nord Stream pipeline set to halt flows for works July 11-21
- Germany expects key pipeline part to be returned from Canada
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European natural gas posted its longest stretch of weekly gains this year, even as traders turn their attention to a potential easing of Russia’s supply squeeze.
The prospect of a detente emerged with Germany expecting Canada to return a turbine for the Nord Stream pipeline that’s been stuck there because of sanctions on Russia. The Kremlin said the equipment would help raise shipments to Europe, helping drive gas prices lower on Friday.