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Putin Opens the Gas Taps, Calls for Energy Security Dialogue

RUSSIA
  • So it seems this is the big Putin announcement the Kremlin told markets to watch out for earlier this week:
  • Russia opening the gas taps and the floor for dialogue on energy security after choking the market to reinforce the importance on Nord Stream 2 and EU states taking longer-term gas contracts with Russia
  • Earlier headlines from the energy ministry showed Russian storage facilities have almost reached sufficient levels and should be full by 1 Nov
  • This should hopefully alleviate some pressure on natgas futures with promises to rectify the supply-demand imbalance, but the situation will need to be monitored in terms of Russian capacity to escalate flows to Europe - although the IEA recently said Russia has capacity to ramp up operations
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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