Energy, Gazprom gives the green light to the plan to send gas to Europe
Green light from the energy giant Gazprom to the supply of gas in the five European storage facilities. The Russian president Vladmir Putin thus fulfills the promise made, denying observers that the taps would be closed until Brussels gave the final green light to Nord Stream 2 (we talked about it here). The effect on the markets it was not long in coming: the reference price of gas, TTF, fell by 3%.
“The volumes and routes of gas transportation have been determined,” he said Gazprom in a statement, without providing further details. Two weeks ago Putin he had ordered the group to focus on replenishing stocks in Germany and Austria starting November 8. But yesterday, it seemed that the promise was not kept and blue gold prices have jumped up to + 10%.
On 27 October the president Vladimir Putin he had told the CEO of Gazprom, Alexei Miller, to start pumping natural gas into European storage once the Russian ones are filled. Gas markets in Asia and Europe have been under pressure since the start of the year, with Dutch hub spot prices surging 365% due to low inventories and increased demand as the economy picks up from the Covid-19 crisis.
To aggravate the situation, the news according to which the Russia it had kept supplies locked while cargoes of liquefied natural gas were being diverted into Asia. As a result, the heating season, and therefore the time of year when there is more need gas, was starting with stocks at their lowest seasonal level in more than a decade.
According to the Ukrainian Transmission System Operator, Gazprom he would have booked another 10 million cubic meters per day of gas pipeline capacity on the border between Ukraine and Slovakia.
Not only that, supplies through the Yamal-Europe pipeline are also flowing west from the Poland at the Germany, resuming their normal course after the direction seemed to be reversed in late October and early November.
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