Nord Stream 1 Gas Leaks Spell Gloom, but Not Doom, for Europe’s Energy Woes

Russia's apparent sabotage attack on the Nord Stream 1 pipeline signals Moscow's willingness to more drastically sever energy trade with Europe this winter. Even if Europe avoids widespread natural gas shortages, the economic fallout from the current energy crisis will be long-lasting. In a Sept. 27 warning, the Swedish Maritime Administration said that it detected two gas leaks on the Nord Stream 1 pipeline (which transports Russian gas under the Baltic Sea directly to Germany) off the coast of the Danish island of Bornholm. The previous day, officials in Denmark warned they had also found a gas leak along a section of the Nord Stream 2 pipeline in the same area. A number of EU officials have described the leaks as being caused by sabotage or a deliberate act -- with Russia as the most likely culprit since Moscow has repeatedly disrupted gas flows to northern Europe in retaliation against...