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MOSCOW, Feb 1 (Reuters) – Russian fuel big Gazprom is ready to renew westbound fuel flows from Poland to Germany on Tuesday by way of the Yamal pipeline, restoring the traditional flows after the route was reversed in December and despatched fuel costs in Europe to all-time highs.
Gazprom booked transit capability of the Yamal-Europe fuel pipeline for eight hours, ranging from 2100 GMT, the information on the reserving platform confirmed.
The capability of 16.2 million kilowatt hours per hour was booked till 0500 GMT, the information confirmed.
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Individually, knowledge on the German community operator Gascade additionally confirmed the expectations for renewal of the westbound flows for eight hours initially.
The pipeline, which often accounts for a couple of sixth of Russia’s annual fuel exports to Europe and Turkey, has been working in reverse mode since Dec. 21, placing upward strain on European fuel costs. learn extra
Gazprom has not booked any month-to-month transit capability by way of the pipeline for February. It has a chance to e-book it by way of every day auctions.
European benchmark fuel costs jumped to a document 184.95 euros per megawatt hours (MWh) on Dec. 21 when the Yamal system reversed move. learn extra
Excessive costs have discouraged purchases of spot volumes from Russia, with patrons as an alternative tapping saved fuel in Europe, the place storage ranges have fallen under their five-year common. learn extra
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Reporting by Olesya Astakhova, Vladimir Soldatkin and Oksana Kobzeva in Moscow
Writing by Polina Devitt
Enhancing by Chris Reese and Matthew Lewis
Our Requirements: The Thomson Reuters Belief Ideas.
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