Natural Gas Prices Soar As Putin Punks Europe
In late October, the market rejoiced and nat gas prices puked (even as we warned this was just the latest joke the Kremlin was playing at gullible Europe's expense) after news that Russian President Vladimir Putin had asked Gazprom to "gradually" raise volumes to Europe starting November 8. So fast forwarding to November 8, i.e., today when not only is there no gas being shipped to Germany via Russia's anchor Yamal pipeline as of today...
... but there are there no signs the continent will get any relief any time soon, with Gazprom moments ago tightening the proverbial (and literal) squeeze on Europe's gas supply:
GAZPROM DIDN'T BOOK EXTRA GAS PIPELINE CAPACITY FOR TUESDAY
GAZPROM OPTS AGAINST SENDING MORE GAS TO EUROPE VIA UKRAINE
NO PIPE SPACE BOOKED TO SHIP EXTRA GAS INTO GERMANY'S MALLNOW.
Today's squeeze follows a supply shock on Sunday, when no extra capacity to send additional supplies to Europe was booked in auctions. Thats a disappointment for traders who had been counting on Gazprom to follow Putins orders to ease the continents supply crunch.
Oops.
"If Russia does what Putin said they will do, then there will be a big relief, Frank van Doorn, head of trading at Vattenfall, said in an interview at the Flame gas conference in Amsterdam last week. If there is no additional gas coming on Monday, we could see a significant price spike.
oilprice.com/Energy/Natural-Gas/...As-Putin-Punks-Europe.html
(Verkleinert auf 61%)

