Requests emerge for westward gas supplies via Yamal-Europe – data

Requests for westward flows of Russian natural gas through the Yamal-Europe pipeline into Germany at the Mallnow metering point were set for Jan. 1 at 8.3 million kilowatt hours per hour (kWh/h), data from German network operator Gascade showed.

That portion of the pipeline has been operating in reverse mode – carrying gas from west to east – since Dec. 21, putting upward pressure on European gas prices, which reached an all-time high earlier this month.

They have since eased as warmer weather and supplies of liquefied natural gas reduced concerns over low Russian pipeline flows.

Russian President Vladimir Putin said last week that Germany was reselling Russian gas to Poland and Ukraine rather than relieving an overheated market, putting blame for the reversal, and rocketing prices, on German gas importers.

The German Economy Ministry declined to comment on Putin’s remark, while gas importers have not responded to Reuters requests for comment.

Gas traders are relying on stockpiles to supply European buyers and avoid paying near record-high prices for new supply, industry sources and market analysts said, explaining the unusual reverse in direction of flows through the pipeline.

The auction results also showed Russian gas exporter Gazprom GAZP.MM has not booked any capacity for Jan. 1 via the pipeline. Another auction will be held overnight.
Source: Reuters (Reporting by Vladimir Soldatkin; Editing by Jan Harvey)