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European gas rises as orders for Russian supplies via Ukraine fall

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European natural gas prices edged up after seven days of decline, with Russian shipments through Ukraine expected to fall on Tuesday.

Orders fell to about 68 percent of the amount Gazprom PJSC can send under its transit contract.

Data showed that the rivers were nearing full capacity through another pipeline, the Nord Stream.

The Russian company has repeatedly stated that its pipeline supplies meet the demand of European customers.

The flows through these pipelines tend to vary on a daily basis.

While Russian supplies are not yet affected by the war, and are even increasing on some days, they have been closely monitored for months.

The invasion of Ukraine has also forced European nations to look for alternative transportation.

Italy on Monday agreed to increase imports from Algeria to reduce its reliance on Russian flows, which currently account for about 40 percent of its demand. The additional flows will begin this year and ramp up later.

Dutch benchmark gas futures for the front month rose 3.2 percent to €103.30 per megawatt-hour as of 8:30 am in Amsterdam

https://www.independent.ie/business/world/european-gas-rises-as-orders-for-russian-flows-via-ukraine-fall-41544532.html European gas rises as orders for Russian supplies via Ukraine fall

Fry Electronics Team

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