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Original title: Russia continues to restrict gas supply to Europe, gas prices have soared collectively
News from the Financial Associated Press (Shanghai, Edited by Ale),Several media reported on Monday (October 18) that Russia will continue to restrict natural gas supply to Europe next month, even though Russia insisted last week that it is ready to help stabilize the market.
Europe’s largest natural gas provider,Gazprom PJSC plans not to send more natural gas to Europe through Ukraine’s main natural gas pipeline next month.In addition, Gazprom will increase the throughput of Polish pipelines very limitedly, only 35% of the planned capacity in November.
After the announcement, natural gas prices have soared everywhere. TTF benchmark Dutch natural gas futures jumped 11.7% at one time, and fell 8% to 86.2 euros/MWh in the previous day, and are now trading at around 104 euros; US natural gas futures jumped by 0.1 US dollars, and the intraday decline narrowed to 1.18%; British natural gas The wholesale price rose by 5.9% to £2.15/sam.
The Russian side said on October 6 that this year’s natural gas exports to Europe may reach a record level, and if customers have additional demand, they will increase the supply. However, Russia has repeatedly emphasized that it must first fill up domestic stocks before increasing exports.
The European energy crisis is far from over
Today, the gas injection for the first branch of “Beixi-2” has been completed. This natural gas pipeline runs from Russia to Germany through the Baltic Sea bottom. The project pipeline consists of two branch lines with a designed annual gas transmission capacity of approximately 55 billion cubic meters, which can bypass Ukraine and transport Russian natural gas to Germany and other European countries.
According to Jiemian News, Russian Deputy Prime Minister Novak said in an interview on Monday that he believes that the “Beixi 2” project will help stabilize the natural gas market. “The new infrastructure including the’Beixi No. 2’project has been put into use. Of course, this is a factor that can help stabilize the natural gas market.”
The report pointed out that Nord Stream 2 AG, the operator of the “North Stream 2” project, is currently handling qualification documents. This procedure is divided into two stages. First, the German regulatory agency drafted a draft decision to certify natural gas pipeline operators and submitted it to the European Commission for evaluation.It will take several months to complete this process.The German Federal Network Agency received a full set of documents from Nord Stream 2 AG in September.
Ron Smith, an analyst at BCS Global Markets, said that people are still worried that even if Russia has completed the gas injection into the first Beixi No. 2 pipeline, Gazprom may not have the ability to send additional gas to Europe.At present, European natural gas inventories are at their lowest seasonal level in more than a decade.
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