Gas flows from Russia to Germany through the Yamal pipeline were steady on Wednesday and above levels at the weekend, according to data from German operator Gascade. More than 12,500,000kWh of gas were running through the pipeline at the Mallnow metering point on the German-Polish border yesterday, relatively unchanged from Tuesday. Earlier this month, the pipeline’s gas flows stuck in reverse, causing European gas prices to rise.
However, the Yamal pipeline is now prone to geopolitical risk. Belarus’ President Alexander Lukashenko has threatened that he might shut the gas link amid a migrant crisis and a standoff with the EU. The suspension of the approval process of the new Nord Stream 2 pipeline also pushed prices. Month-ahead, gas prices in Amsterdam jumped 7.8% to €101.61 ($114.95) per MWh, while the wholesale gas price contract in London for the first quarter of next year surged nearly 12% to £2.45 ($3.30) per therm.
