May 26, 2022

Wire Service Canada

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From Donbass, from Wednesday, the flows to EU-Corriere.it . stop

At 5 am this morning it will be understood whether (or not) there is a decrease in gas flows from Russia to the Tarvisio arrival point in Friuli. At that time, the Italian director Sanam will be able to assess whether what is happening in the Donbass River could affect the methane supply destined for Italy. Certainly there is some concern from operators, but industrial sources are assured of the ability of the supply system to absorb any blockage thanks to the branching of the network of gas pipelines that transport Russian gas to Europe.

Ukraine announced yesterday that it will be suspended from the first From the morning hours, the gas flowed through a crossing point that supplies nearly a third of the methane gas destined for Slovakia, Hungary, Austria, Romania and Italy, accusing Moscow of difficulty in supplying as the occupation forces halted their operations. This was announced in the GTSOU memo by the Kyiv director, and he ordered to stop crossing the Sukhranivka Road. It is a very sensitive route because methane passes through the territory of the breakaway Lugansk region, where war breaks out and reprisals are daily. Ukrainians support the hypothesis of force majeure included in contracts as a condition that must be exercised when an event beyond one’s control occurs. The Ukrainian operator said that it could not work at the Novopskov gas compressor station in the Lugansk region due to the occupation forces’ interference in technical operations, adding that it could temporarily divert the affected flow to the actual connection point Sudzha. territory controlled by Ukraine.

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Gazprom is not of the same opinion. monopolist From Russian gas exports he said that it is technically impossible to transfer all volumes, and there are certainly no risks that would recommend doing this. What is certain is that the Novopskov pressure station was occupied by Russian forces and separatist fighters a few days after the start of Russian military operations. Approximately 32.6 million cubic meters of gas per day, destined for Europe, pass through this route. The news sent Amsterdam gas futures prices (Ttf) to over €100 per megawatt-hour.

Gas price hike

Ukraine remains an important transit route for Russian gas to Europe even after Russia’s invasion of the country on February 24, but risks of war-related disruptions still dominate the market. Gas prices in Europe will maintain this geopolitical risk premium for the foreseeable future, Stifel analyst Chris Whiton and David Round said in a statement early Tuesday, May 10. They said gas prices may remain high for the remainder of 2022 and 2023.