Russian gas pipeline stuck in reverse in Europe

Economy20 minutes ago (Nov 03, 2021 17:15)

© Reuters. FILE PHOTO: A worker turns a valve as another worker talks on a phone at a gas compressor station at the Yamal-Europe pipeline near Nesvizh, some 130 km (81 miles) southwest of Minsk, Belarus, December 29, 2006. REUTERS/Vasily Fedosenko//File Photo

(Reuters) -A major Russian pipeline that supplies natural gas to Europe remains stuck in reverse after requests to transport gas westwards through it into Germany were abruptly withdrawn, data on the website of its German operator showed.

Entry renominations, or requests to transport gas into Germany on the Yamal-Europe pipeline reverted to zero after earlier hitting 13,521,200 KWh/h for Thursday, data on the website of Gascade showed on Wednesday.

Russian gas has not flowed westwards into Germany via the pipeline since Saturday. Instead, supplies were sent east in a reversal that sent benchmark European gas futures climbing.

News the flows would not be restarted sent the front-month TTF gas contract back up to 77.65.

It had earlier dropped to as low as 75 euros per MWh when the requests were initially published.

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