Putin's Gas Weaponization Hits A Hot Spot In Berlin

Putin's Gas Weaponization Hits A Hot Spot In Berlin

Andrew H. Sweet
Gazprom Infographic

Yamal-Europe, Europe's longest gas pipeline, usually transports Russian natural gas overland too — rather than from —  Germany. Now it has spent the last week sending mainly Russian gas from Germany back to Poland. The purpose? To meet a shortfall as temperatures drop to -10 degrees Celsius (14 F) and Russia cuts gas supplies.

On December 21, Russia halted gas supply via Yamal-Europe, immediately spooking markets. The wholesale price in the benchmark Dutch TTF contract for January deliveries rocketed to €160 ($185)  from €100 on December 9. High gas demand in Asia is also fed the spike in prices.

Last week, Poland's government accused Moscow of stopping deliveries via Yamal-Europe, saying Gazprom had engaged in "manipulation."

Ukraine's pipeline operator said on Friday that Russia is sending less gas to Europe via Ukraine than in the transit contract. Gazprom and Ukraine signed a five-year deal on Russian gas transit to Europe at the end of 2019.

Read the original story here.

Comments

Sign in or become a tippinsights member to join the conversation.
Just enter your email below to get a log in link.