Yamal pipeline in Russia to resume supplies of gas
Russian gas operator Gazprom is set to start-up westbound gas flows from Poland to Germany from the Yamal pipeline.
This will restore the normal flows after the route was reversed in December and sent gas prices in Europe to all-time highs.
Gazprom booked transit capacity of the Yamal-Europe gas pipeline for eight hours, Reuters reported.
The pipeline, which usually accounts for about a sixth of Russia's annual gas exports to Europe and Turkey, has been operating in reverse mode since 21 December, putting additional upward pressure on European gas prices.
Gazprom has not booked any monthly transit capacity via the pipeline for February. It has a possibility to book it via daily auctions.
European benchmark gas prices jumped to a record €184.95 per megawatt hours (MWh) on 21 December when the Yamal system reversed flow.
High prices have discouraged purchases of spot volumes from Russia, with buyers instead tapping stored gas in Europe, where storage levels have fallen below their five-year average.
This will restore the normal flows after the route was reversed in December and sent gas prices in Europe to all-time highs.
Gazprom booked transit capacity of the Yamal-Europe gas pipeline for eight hours, Reuters reported.
The pipeline, which usually accounts for about a sixth of Russia's annual gas exports to Europe and Turkey, has been operating in reverse mode since 21 December, putting additional upward pressure on European gas prices.
Gazprom has not booked any monthly transit capacity via the pipeline for February. It has a possibility to book it via daily auctions.
European benchmark gas prices jumped to a record €184.95 per megawatt hours (MWh) on 21 December when the Yamal system reversed flow.
High prices have discouraged purchases of spot volumes from Russia, with buyers instead tapping stored gas in Europe, where storage levels have fallen below their five-year average.
