Its European prices rose by 13%. natural gasafter their record shutdown on Friday after Moscow abruptly announced that the Nord Stream 1 gas pipeline would be closed for three days for repairs on 31 August.

The announcement heightened fears of prolonged supply disruptions, raising again concerns that the pipeline will not return to service once work is completed.

Germany is always preparing for Moscow turning off the tap, and German Economy Minister Robert Habeck said: “We must wait for Putin to cut the gas supply even further.”

European authorities have repeatedly warned of the possibility of a complete halt to supplies from Russia as the Kremlin retaliates against sanctions imposed over the war in Ukraine. Germany, Europe’s largest consumer of natural gas, is looking for alternatives but is unlikely to replace all Russian imports.

Natural gas prices in the Netherlands, which is also a benchmark for Europe, rose by 11% to 270.98 euros per MWh. They ended their fifth straight week higher on Friday, according to Bloomberg.