By Evgeny Tugolukov – investor, founder of the Medscan group of medical companies.
In mid-June, Gazprom announced technical problems with the Nord Stream 1 pipeline. The Russian energy giant said that gas compressor units, made by Germany’s Siemens, were being repaired in Canada and couldn’t be returned to Russia due to Western sanctions.
As a result, the pipeline’s daily flow was reduced by 40% from June 16. The situation prompted EU countries to prepare emergency plans to strengthen their energy security, because the global industry simply doesn’t produce enough liquefied natural gas (LNG) to replace Russian gas supplies.
However, the story of the Siemens turbine appears to have a happy ending: Canada will return it to Germany, and Berlin will deliver the equipment to Gazprom.
Since its historic reunification in 1990, Germany has secured its prosperity with advanced industry and technologies, which in turn has been driven by the hard work and creative spirit of its people….
