Goldman Says EU Gas May Challenge August Highs on Gazprom News
- Nord Stream natural gas pipeline will remain shut down
- Markets can balance at prices slightly above current levels
A Gazprom PJSC compressor station in the Amur region, Russia.
Source: Bloomberg
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European natural gas prices could approach highs set in August after Russia said its key pipeline to Europe won’t resume flows as planned, according to Goldman Sachs Group Inc.
The news will probably “reignite market uncertainty regarding the region’s ability to manage storage through winter” and is set to drive a “significant rally from Monday, potentially mimicking the August highs”, analysts, including Damien Courvalin, head of energy research, said in a report late Friday.