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Yamal pipeline headlines not significant for markets

NATURAL GAS

Lots of focus in the market on some Bloomberg headlines that the Yamal pipeline is running in reverse and that Russia has halted gas flows to Germany from the Yamal pipeline.

  • However, this is a non-story. The Nord Stream pipeline is still running at close to normal levels while the reverse flows in the Yamal pipeline are on a section between Germany and Poland (so Poland is receiving gas via Germany).
  • Obviously the market is very sensitive to any headlines on Russian gas supply given the Putin's decree that payments must be made in RUB, but these headlines are not of significance.
Energy BulletsCommodities
Energy BulletsCommodities

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