{"id":60386,"date":"2021-11-11T06:48:33","date_gmt":"2021-11-11T11:48:33","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60386"},"modified":"2021-11-11T06:48:33","modified_gmt":"2021-11-11T11:48:33","slug":"european-natgas-prices-tumble-as-russian-pipeline-flows-finally-increase","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60386","title":{"rendered":"European Natgas Prices Tumble As Russian Pipeline Flows Finally Increase"},"content":{"rendered":"
\n

European Natgas Prices Tumble As Russian Pipeline Flows Finally Increase<\/a><\/h3>\n<\/header>\n
\n
\n

European natural gas prices plunged Wednesday after signs\u00a0Russian gas flows into Europe were increasing<\/strong>\u00a0ahead of what’s expected to be a miserable winter of tight supplies and high energy costs.<\/p>\n

Dutch natural gas futures, the European benchmark, dropped as much as 12% to \u20ac 64.14 per megawatt-hour after Russia’s state energy company Gazprom PJSC data showed flows to Europe via Ukraine and Poland increased Wednesday.<\/p>\n

\"\"<\/picture><\/a><\/p>\n

“There are currently\u00a0tentative signs Russia is sending more gas<\/strong>. More than 94 million cubic meters of natural gas are expected to flow through a key checkpoint in Europe’s pipeline network on Slovakia’s border with Ukraine Wednesday. That would mark an increase from roughly 85 million cubic meters on Tuesday and 75 million cubic meters on Monday, according to data from EUStream, which operates Slovakia’s gas transmission system,”\u00a0Dow Jone’s commodities reporter Will Horner<\/a>\u00a0said.<\/p>\n

\"\"<\/picture><\/a><\/p>\n

As the heating season has already begun,\u00a0additional supply is needed in Europe, with gas inventories at the lowest in a decade<\/strong>. In October, Russian President Vladimir Putin said that Gazprom would boost flows into Europe after Russia’s domestic stockpiling was complete.<\/p>\n

\"\"<\/picture><\/a><\/p>\n

On Monday, we noted a supply shock hit gas shipments to Germany via Russia’s Yamal pipeline when flows\u00a0dropped to zero<\/a>. But the good news today shows\u00a0shipments along the key pipeline have also picked up<\/strong>.<\/p>\n

\"\"<\/picture><\/a><\/p>\n

“If Russia does what Putin said they will do, then there will be a big relief,”<\/strong>\u00a0Frank van Doorn, head of trading at Vattenfall, was quoted last week at the Flame gas conference in Amsterdam.<\/p>\n

This week, a rise in gas flows across\u00a0multiple pipelines is calming traders’ nerves, and prices are declining. EU gas storage remains well under seasonal trends as forecasts of below-average temperatures in northwest Europe could elevate prices in the coming weeks.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

European Natgas Prices Tumble As Russian Pipeline Flows Finally Increase European natural gas prices plunged Wednesday after signs\u00a0Russian gas flows into Europe were increasing\u00a0ahead of what’s expected to be a miserable winter of tight supplies and high energy costs. Dutch natural gas futures, the European benchmark, dropped as much as 12% to \u20ac 64.14 per […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[281,554,17653,694,4318],"class_list":["post-60386","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-europe","tag-natural-gas","tag-natural-gas-price","tag-russia","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60386"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60386\/revisions"}],"predecessor-version":[{"id":60387,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60386\/revisions\/60387"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}