According to Reuters, Russian gas giant Gazprom did not reserve any capacity for exports via Jamal on Tuesday, which supplies Russian gas to Germany via Poland. In November, the volume and direction of gas flow in Jamal alternated from east to west, depending on how much gas customers demanded.
The price of a key forward gas contract with delivery in January at the Title Transfer Facility virtual trading node in the Netherlands at the beginning of Tuesday’s trading reached over 153 euros (approximately 3,860 crowns) per megawatt-hour. It showed a growth of more than four percent and was close to a record 155 euros, where it was in October.
“The supply of Russian supplies is coming at the worst possible time. There is little wind in Europe, so the production of electricity from windmills is noticeably lagging behind. In addition, the weather is relatively cold, which of course intensifies the demand for energy, “comments Lukáš Kovanda, chief economist at Trinity Bank.
“Especially if frosts hit the EU in the coming weeks, blackouts or the need to cut off electricity supplies to businesses and households serially, region by region, cannot be ruled out,” he added.
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Pressure to put Nord Stream 2 into operation
Gazprom is an important supplier of gas to many European countries and has a monopoly on the export of this strategically important raw material from Russia via pipelines. “Gazprom supplies gas according to customer requirements and in full compliance with current contractual obligations,” the Russian company said on Monday.
The Polish state-owned gas and oil company PGNiG has confirmed that Gazprom is fulfilling its contractual obligations in accordance with its requirements. “We have no reservations,” said Polish company spokesman Radoslaw Kazimierski.
Europe is experiencing a sharp rise in gas prices this year. In this context, Moscow has been accused of trying to force Germany and the European Union to approve the operation of the Nord Stream 2 gas pipeline by restricting gas supplies.
Russia denies such allegations and points to factors that contribute significantly to rising gas prices. In addition to high demand, there is also an increase in the prices of liquefied natural gas (LNG), which Europe imports from non-European areas.
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