Russian gas flows via Yamal-Europe pipeline to Germany halted again

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  1. It’s always funny how Reuters runs stories with clickbait-ish titles and the first couple of paragraphs always follow a certain agenda. But buried deep in the article it is always forced to write facts because it is somehow a reputable news agency.

    >A spokesperson for Polish gas company PGNiG (PGN.WA) said Poland was receiving gas from both directions.

    >”Everything is fine from our point of view. The contract with Gazprom (GAZP.MM) is being executed,” the spokesperson said, referring to the Russian gas major.

    > The level of Yamal flows between Poland and Germany and their direction are managed by Gaz-System in Poland and Gascade in Germany, based on customers’ requests. One analyst said last week the reversal of flows pointed to demand from Poland given generally high prices and tight supplies of liquefied natural gas (LNG).

    > PGNiG’s contract with Gazprom provides for supplies of around 10 billion cubic meters (bcm) of gas a year, out of which at least 8.7 bcm under a take-or-pay agreement.

    > If there is a chance to buy cheaper gas from the West and Poland has already bought enough gas under its agreement with Gazprom, it can switch to deliveries from the West, traders have said.

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