(Montel) Transit flows of Russian gas to Europe through Ukraine were stable on Monday, despite Gazprom's announcement on Friday evening that it would stop supplying Austrian energy company OMV this weekend.
Transit appointments for this Monday morning through the Soudja connection point were estimated at 454 GWh/day (42 million cubic meters/day), in line with the levels observed since Friday, according to data from the transmission network manager Ukrainian gas.
The Russian gas monopoly Gazprom informed OMV on Friday that from Saturday morning, it would reduce to the point of stopping the supply contracted by the Austrian company.
This caused benchmark TTF gas prices to jump to a one-year high of EUR 47.49/MWh. The following month's contract settled at EUR 46.55/MWh, its highest level since the 1is December 2023.
Another buyer?
“Maybe someone other than OMV buys [ce gaz] spot,” Yuriy Onyshkiv, gas market analyst at kyiv-based LSEG, suggested on Sunday.
However, the massive Russian offensive launched this weekend against Ukraine's energy infrastructure risks further reducing any possibility of continued transit of Russian gas through Ukraine after the planned expiration at the end of the year. five-year agreement with Gazprom, he added.
“With this [attaque]it would be impossible to sell [en Ukraine] the idea of continued transit of Russian flows through Ukraine next year,” judged Mr. Onyshkiv.
OMV warned on Thursday that its supply of Russian gas could stop earlier than expected following an arbitration decision forcing Gazprom Export to pay it compensation of EUR 230 million.
