Filenews 21 July 2022
Russia began sending gas through its largest pipeline to Europe after the 10-day maintenance period, according to the Bloomberg agency citing Nord Stream AG.
The flows resumed on Thursday, a spokesman for the pipeline manager said by phone. Restoring flows to the requested levels will take some time. Gazprom declined to comment.
The resumption of flows is going to provide some relief to Europe, which is racing to fill warehouses in the run-up to winter. Orders to ship gas signal that exports through the pipeline will continue at 40% of capacity, at the same level before maintenance work.
Flows to the 40% level could cause prices to fall, according to Goldman Sachs.
"The large number of customers who expected the pipeline to remain at zero after maintenance suggests that there is likely to be a sell-off of European gas prices from current levels," the analysts said in a report.
Europe is closely monitoring the situation with the flow of Russian gas to the Nord Stream 1 pipeline, as work on the annual maintenance of the pipeline is expected to be completed today, with European governments preparing for the possibility of further energy cuts.
Source: Capital.gr
