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Russia started sending gas through it’s biggest pipeline to Europe after a 10-day maintenance period, according to Nord Stream AG.
Flows restarted on Thursday, a spokesperson for the pipeline operator said by phone. Restoring flows to the levels requested will take some time. Gazprom PJSC declined to comment.
The resumption of flows is set to provide some relief for the continent that’s racing to store the fuel before the winter. Orders for gas shipment signal exports via the pipeline will resume at 40% of capacity, the same level prior to the maintenance.
Flows at the 40% level could send prices tumbling, according to Goldman Sachs Group Inc.
“The large number of clients that have expected the pipeline to remain at zero post maintenance suggests a sell-off in European gas prices from current levels is likely,” analysts including Samantha Dart said in a report.
