Russia’s main gas pipeline to Germany went offline for planned maintenance on Monday, beginning an anxious 10-day wait to see whether Moscow will switch it back on.
Nord Stream 1’s operators said it needs routine servicing but there are fears that Russia will use the opportunity to shut down the pipeline for good because of its standoff with western powers over Ukraine.
A complete shutdown once maintenance ends on July 21 would add to Germany’s energy concerns after it declared a gas emergency last month and called on people to save power now so that their lights will stay on in winter.
It would also cause problems for other European countries after modelling by German regulators said the country would have to curb its onward exports, to countries such as Austria and the Czech Republic, if Nord Stream remains at a standstill.
“Let’s prepare ourselves for a total cut-off of Russian gas, today it’s the most likely scenario,” said French Finance Minister Bruno Le Maire, who insisted the government was doing everything possible to prevent energy shortages.
Although France’s many nuclear power stations partly protect its electricity grid against Russian actions, many of them are currently down for maintenance and the country is looking to import more gas from elsewhere.
Germany is hurriedly building liquid gas terminals on its northern coast so it can start importing from outside Russia this winter, but gas tanks are meant to be 80 per cent full by November under new European Union guidelines.
If Nord Stream stops and Germany does not limit exports, even a 20 per cent reduction in gas consumption for the rest of the year would leave the country short of energy, the modelling by regulators said.
Timon Grimmels, an MP from Chancellor Olaf Scholz’s party, said Russia could increase gas supplies through another east-west pipeline, Yamal, if it wanted to make up for the Nord Stream stoppage.
“The fact this isn’t happening is further evidence for the fact that Putin is using gas as a weapon in an economic war,” he said.
State-owned Russian exporter Gazprom has already reduced delivery through Nord Stream 1, a 1,224-kilometre pipeline under the Baltic Sea, for what it claimed were technical reasons linked to compressor units.
German Economy Minister Robert Habeck last month described this as a pretext to limit supplies and drive up already alarmingly high energy prices.
Nord Stream 2, a parallel pipeline which was completed last year, never went online after Mr Scholz suspended the project in February.
Some European countries have had their supplies cut off for refusing to pay in roubles, a demand made by the Kremlin in March. Western powers see this as a breach of contract and an attempt by Russia to circumvent sanctions.
Western Clubs Champions League:
- Friday, Sep 8 - Abu Dhabi Harlequins v Bahrain
- Friday, Sep 15 – Kandy v Abu Dhabi Harlequins
- Friday, Sep 22 – Kandy v Bahrain
Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
COMPANY%20PROFILE
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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UAE currency: the story behind the money in your pockets
