"The Kremlin said the move was due to 'technical' constraints, with supplies set to be rerouted through alternative logistics channels. Alexander Novak confirmed that from May 1, volumes of Kazakh oil previously transported via the pipeline to Germany would be redirected elsewhere."
"The decision has triggered concern in Germany, where the pipeline supplies around 17% of the crude processed at the PCK refinery in Schwedt - a critical facility that provides up to 90% of Berlin's fuel, as well as kerosene and heating oil."
"Berlin has moved swiftly to reassure markets, with the Federal Ministry for Economic Affairs and Energy insisting that contingency plans are in place. In a statement, officials said supply security would not be jeopardised, even if the Schwedt refinery were forced to operate at reduced capacity."
Moscow intends to close the Druzhba pipeline within nine days, impacting oil flows to Europe. The Kremlin cites technical constraints, with Kazakh oil volumes redirected. This decision raises concerns in Germany, where the pipeline supplies 17% of crude for the PCK refinery, crucial for Berlin's fuel. The refinery has shifted from Russian to Kazakh crude since the Ukraine invasion. The German government reassures that supply security remains intact, with contingency plans in place to manage potential disruptions amid ongoing global energy market tensions.
Read at London Business News | Londonlovesbusiness.com
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