Update (1025ET):

AFP News reported the US is ‘ready to provide support’ to Europe after the Nord Stream pipeline system leaks. 

There was no further information on what type of support, but one can only imagine it would involve increased LNG cargo shipments to the EU.  

There’s only one issue… 

And then watch these floating hindenburgs encounter unexpected if catastrophic “events” as they sail to Europe https://t.co/aoMOWxWDry

— zerohedge (@zerohedge) September 26, 2022

* * * 

Update (0932ET): 

Swedish broadcaster SVT reported that the Swedish National Seismic Network detected two underwater explosions near the Nord Stream pipeline system on Monday. 

Bjorn Lund, a professor in seismology and director of the Swedish National Seismic Network, said these two seismic events were explosions.  

Here’s a map of the three leaks on the Nord Stream pipeline system. 

All blasts seem to be just outside territorial waters (though within EEZ) – that has potential legal implications regarding interference with sovereignty Also interesting is whether sheer size of methane bubbles (1km diameter) moves it back inside Danish territory… https://t.co/a3l0q0bByk

— David Sheppard (@OilSheppard) September 27, 2022

Bloomberg’s Javier Blas said the size of the “gas leak is huge.” 

The size of the Nord Stream pipeline gas leak is huge. According to the Danish armed forces, it measures about 1 kilometer in diameter. The smaller circle in the center is approximately 200 meters wide https://t.co/7FJQNN5hNg

— Javier Blas (@JavierBlas) September 27, 2022

So the question remains what (or who) caused the blasts? 

Remember what President Biden said weeks before Russia invaded Ukraine:  

No biggie, just a major gas leak in Nordstream 2 and suspected ‘sabotage,’ it’s a real mystery what’s going on https://t.co/azIM4DF58T

— Kyle Becker (@kylenabecker) September 27, 2022

* * * 

Update (0920ET):

Swedish daily newspaper Aftonbaldet quoted the Swedish Defense Force’s chief of operations, Michael Claesson, who said it’s not ruled out that there’s a connection to the gas leaks and Russia’s mobilization last week. 

Claesson then told the paper that the incident was a “military matter.” 

* * * 

Update (0910ET): 

Danish Defense Forces published the first images of the gas leaks from the Nord Stream pipeline system near the exclusive economic zone southeast of Bornholm island, according to the Swedish daily newspaper Aftonbaldet. 

The first images show a large surface area of gas bubbles in the Baltic Sea. 

Here are more images of one of the leaks. 

Another leak was reported by the Danish Defense Forces to be 1 kilometer in diameter on the surface water. 

UPDATE – The surface area of the largest Nord Stream gas leak shows a “disturbance” of well over 1 kilometer in diameter, according to the Danish armed forces. pic.twitter.com/u0r4cGjImo

— Disclose.tv (@disclosetv) September 27, 2022

This is an absolutely massive leak. 

A handful of EU officials suspect the pipelines were sabotaged.  

* * * 

Update (0842ET):

Sweden’s government held a crisis management meeting with other public authorities over the damage to the Nord Stream pipeline system, Swedish daily newspaper Aftonbaldet said, citing comments from Foreign Minister Ann Linde. 

Linde said Sweden may discuss the pipeline damage with Denmark later today.  

Denmark is tightening security around all energy assets as some European officials speculate the NS pipeline system was sabotaged. 

* * * 

The plot thickens about what caused damage to three lines of the Nord Stream gas-pipeline system under the Baltic Sea to Europe as some European officials now suspect sabotage.

Nord Stream AG, the operator of the NS pipeline system, published a statement Tuesday that read, “the destruction that happened within one day at three lines of the Nord Stream pipeline system is unprecedented … and impossible now to estimate the timeframe for restoring operations of the gas shipment infrastructure.” 

On Monday, NS2 gas pipeline and two NS1 lines reported rapid pressure drops, with gas leaks reported by Swedish and Danish authorities in the Baltic Sea near the exclusive economic zone southeast of Bornholm island. 

A more in-depth view of the incident area. 

Pressure drops in the NS gas-pipeline system could be the biggest signal that flows via NS1 might not resume this winter. Germany and surrounding countries are investigating the incident. NS2 cannot impact flows to the EU because the controversial idled conduit was never operational after German Chancellor Olaf Scholz canceled it after Russia invaded Ukraine earlier this year.

Klaus Mueller, the president of the German energy network regulator, tweeted that the market situation remains “tense,” but Germany and the EU are no longer dependent on NS supplies. 

Nord Stream AG issued an outage message that is active until Oct. 26, while the German economy ministry said it’s investigating the incident. 

Dutch front-month gas, the European benchmark, was up nearly 10% at 190.50 euros per megawatt-hour on Tuesday morning. 

The simultaneous pressure drop of the NS lines suggests some market participants may watch for any indication of sabotage. 

Denmark’s Prime Minister Mette Frederiksen said it was hard to imagine NS gas leaks were caused by a “coincidence.” 

Frederiksen didn’t rule out sabotage, though she said it was too early to draw any conclusions, according to Reuters, quoting public broadcaster DR during a visit to Poland. 

A German security official told Bloomberg that NS damage appears to be the result of “sabotage.”

German daily newspaper Tagesspiegel reported that “the Nord Stream pipelines may have been damaged by targeted attacks and leaked as a result.”

A source close to the government, quoted in the newspaper, said, “everything speaks against a coincidence.”

“

Die Welt, another German newspaper, reported the timing of the NS damage may suggest sabotage and was unlikely to be an accident. 

Reporters asked Kremlin spokesman Dmitry Peskov if the NS system’s pressure drop could be due to sabotage. He responded: “It is impossible to exclude any options.”

There appears to be no immediate end to the gas leak from NS pipelines, according to the Danish national daily newspaper Berlingske, which quoted Danish Energy Authority. 

DANISH ENERGY AUTHORITY: GAS LEAKS FROM NORD STREAM PIPELINES WILL CONTINUE FOR DAYS -NEWSPAPER BERLINGSKE

— zerohedge (@zerohedge) September 27, 2022

The energy authority said, “a lot of gas is coming out, so it is not a small crack, it’s a really big hole. Nord Stream leaks can be a deliberate act, but it can also be something else, it’s just extremely rare that something like this happens.”

DANISH ENERGY AUTHORITY CHIEF: GAS BUBBLES FROM NORD STREAM 2 LEAK REACHING SURFACE OF THE OCEAN IN AREA MEASURING MORE THAN 100 METRES IN DIAMETER

— zerohedge (@zerohedge) September 27, 2022