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NATGAS: Austrian Gas Hub Volumes Slip Following Russian Cut

NATGAS
Energy BulletsBulletPower BulletsCommodities

Austria’s central gas hub traded less volumes in January due to falling Russian transit its CEO said at E-World.

  • "In January, we had a 9% year-on-year decline in spot volume and a 14% decline in futures," he said. "Given the biggest change in our 20-year history this year, I have to say that it went surprisingly well."
  • Russian gas flows to Austria stopped on November following non-payment as OMV tried to reclaim arbitration costs resulting in higher TTF pricing.
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Austria’s central gas hub traded less volumes in January due to falling Russian transit its CEO said at E-World.

  • "In January, we had a 9% year-on-year decline in spot volume and a 14% decline in futures," he said. "Given the biggest change in our 20-year history this year, I have to say that it went surprisingly well."
  • Russian gas flows to Austria stopped on November following non-payment as OMV tried to reclaim arbitration costs resulting in higher TTF pricing.