Russia’s Gazprom PJSC announced plans to halt flows of natural gas to Europe through the Nord Stream 1 (NS1) system at the end of the month as the continent closes out its most volatile market week since March.

The state-controlled firm disclosed Friday flows on NS1 would be closed from Aug. 31 to Sept. 2 during scheduled maintenance on its only currently operating compressor at a key station, Portovaya CS.

Once maintenance is completed, “provided that no malfunctions are identified,” flows could resume on NS1 at around 20% of the system’s capacity, representatives for Gazprom said in a statement.

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NS1 volumes have been reduced to 20% since July, which...