Eastward Yamal gas flows from Germany to Poland decline further

The pipeline, which usually accounts for about a sixth of Russia's annual gas exports to Europe and Turkey, has been operating in reverse mode since Dec. 21, putting upward pressure on European gas prices. Eastbound flows on Wednesday were at 9.1 million kWh/h, down around the 9.7 million kWh/h over the previous 24 hours, data from the Mallnow metering point on the German-Polish border showed.

Gas flows from Germany to Poland via the Yamal-Europe pipeline, which usually sends Russian gas westward into Europe, fell on Wednesday morning, data from German network operator Gascade showed. The pipeline, which usually accounts for about a sixth of Russia's annual gas exports to Europe and Turkey, has been operating in reverse mode since Dec. 21, putting upward pressure on European gas prices.

Eastbound flows on Wednesday were at 9.1 million kWh/h, down around the 9.7 million kWh/h over the previous 24 hours, data from the Mallnow metering point on the German-Polish border showed. Flows are expected to remain broadly at this level until the early hours of Thursday. European benchmark gas prices jumped to a record high 184.95 euros per megawatt hour (MWh) on Dec. 21 when the Yamal system reversed flow.

Those high prices have discouraged buying spot volumes from Russia, with buyers instead tapping stored gas in Europe, where storage levels have fallen below their five-year average. Capacity nominations for supply to Slovakia from Ukraine via the Velke Kapusany border point, another major route for Russian gas deliveries to Europe, rose to their highest this year.

Nominations rose to 605,132 MWh for Wednesday, though that was still well below levels seen in December.