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Russia’s Gazprom PJSC said it’s kicking off a plan to send gas into five European storage facilities in November, delivering on a promise made by President Vladimir Putin to the energy-hungry continent last month.
“The volumes and gas-transportation routes have been determined,” Gazprom said in a statement, without giving further details. Two weeks ago Putin ordered the exporter to focus on refilling its inventories in Germany and Austria from Nov. 8, following completion of a Russian stockpiling campaign.
European gas prices have more than tripled this year, with Russia keeping supplies capped and liquefied natural gas cargoes diverted to Asia. As a result, inventories began the heating season at their lowest seasonal level in more than a decade.
The regional benchmark gas price fell on Tuesday amid signals that more Russian gas would be arriving.
Gazprom has booked an extra 10 million cubic meters a day of pipeline capacity at the Ukraine-Slovakia border, according to the Ukrainian Transmission System Operator. Supplies through the Yamal-Europe pipeline are also flowing westward from Poland to Germany, resuming their normal course after the direction was reversed in late October and early November.
Gazprom sent some fuel into its German storage facilities over the weekend and some injections are continuing, albeit at lower levels, according to data from its Astora unit.
