Europe Gas Rises as Russian Supply Via Key Route Stays in Focus
- Putin has said Nord Stream flows could dip without key turbine
- Benchmark gas futures gained as much as 6.6% on Friday
A storage tank at the gas receiving compressor station of the Nord Stream 1 natural gas pipeline in Lubmin, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
European natural gas prices rose as Russian supply through a major pipeline remained at the center of traders’ attention despite stable shipments for a second day.
The market is turning its focus to how long Moscow will maintain the level of flows through the Nord Stream pipeline. Shipments resumed at 40% of capacity following the end of maintenance on Thursday, but Russian President Vladimir Putin has warned that they could decline to 20% if a turbine that’s stuck in transit isn’t received in time to replace another that’s likely to need repairs.