Europe Gas Falls as Return of Key Pipeline Part May Ease Tension
- Canada agrees to return Nord Stream turbine to Germany
- Nord Stream pipeline shuts for planned maintenance on Monday
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European natural gas fell after Canada said it would return a stranded turbine for a key Russian pipeline to Germany, raising optimism that tensions with Moscow over energy supplies will ease.
Benchmark futures dropped as much as 12%. The Canadian move comes as much-needed relief for Germany, and more widely Europe, with deeply reduced shipments through the Nord Stream pipeline threatening the region’s plan to fill storage sites in time for winter and bringing the risk of rationing.