Russia will resume gas shipments to Europe on Saturday. Prices fell 5%.
Gas shipments to Europe via the Nord Stream 1 pipeline are expected to resume on Saturday, according to Bloomberg.
Russia is expected to resume natural gas supplies to Europe through the Nord Stream 1 pipeline on Saturday, after the infrastructure was suspended Wednesday for an apparent three-day maintenance. The information is being advanced by Bloomberg. The news is a relief for European leaders, who fear a total cut in the supply of this fuel to the continent by Moscow in retaliation for the sanctions imposed to punish Russian President Vladimir Putin for the invasion of Ukraine.
Dutch TTF futures for October delivery, the European benchmark contract, were down 5.76 % on Friday morning to €229 ($228,70) per megawatt-hour (MWh), according to data collected by ECO on the Barchart platform. But prices fell as much as 9.5% According to Bloomberg, stocks fell 5%, but recovered as investors weighed the risk of further Russian gas supply disruptions. Russia’s state-owned Gazprom had announced a three-day suspension of the pipeline for maintenance, which led to a surge in gas prices in Europe. The rise affected electricity prices, which reached highs above €1,000 ($998,71) per MWh in some central European countries last week. Against this backdrop, the European Commission announced it was preparing emergency measures that could result in the reform of the European wholesale market.