East-bound gas flows via Russian Yamal-Europe pipeline stable
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Since December 21, the link between Poland and Germany has been in reverse, placing upward pressure on European gas prices.
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When the Yamal-Europe system reversed flow on Dec. 21, European benchmark gas prices surged to a new high of 184.95 euros per megawatt-hour
Gas flows via the Yamal-Europe pipeline, which normally heads west from Russia to Europe, remained reversed on Saturday, with low supplies to Poland from Germany basically unchanged since Monday, according to data from German network operator Gascade.
Since December 21, the link between Poland and Germany has been in reverse, placing upward pressure on European gas prices.
On Saturday morning, flows from Germany to Poland via the Mallnow metering point totaled more than 1.5 million kilowatt-hours per hour (kWh/h).
Renominations, or bids, are projected to remain over 1.5 million kWh/h until Sunday morning, according to the operator. The pipeline typically transports around 15% of Russia's yearly gas exports to Europe and Turkey westward.
Gazprom, the Russian gas export company, had not booked any transit capacity along the route for February. At a quarterly auction on Monday, it also failed to book capacity for the second and third quarters of the year.
When the Yamal-Europe system reversed flow on Dec. 21, European benchmark gas prices surged to a new high of 184.95 euros per megawatt-hour (MWh).
Russia has been accused by the West of withholding gas in order to raise prices and put pressure on EU and German regulators to approve the new Nord Stream 2 pipeline, which will treble Moscow's piped export capacity over the Baltic Sea.
On its account, Russia denies the allegations, and Gazprom affirms the completion of all long-term commitments, stressing that the reversal of flows is due to purchasers avoiding high spot costs for fresh Russian supply via the pipeline in favor of gas stored underground in Germany or supplied elsewhere.
