Eastward Yamal Gas Flows from Germany to Poland Decline

MOSCOW (Reuters) — Gas flows from Germany to Poland via the Yamal-Europe pipeline, which usually sends Russian gas west into Europe, have declined, data from German network operator Gascade showed on Tuesday morning.

The pipeline link between Poland and Germany has been operating in reverse mode since Dec. 21, putting upward pressure on European gas prices.

The pipeline usually accounts for about a sixth of Russia's annual gas exports to Europe and Turkey.

The reverse flows on Tuesday morning were at 9.67 million kWh/h, down from the 11.93 million kWh/h over the previous 10 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 Wednesday.

European benchmark gas prices hit a record of 155 euros per megawatt hour (MWh) on Oct. 6, only to climb to a fresh peak of 184.95 euros on Dec. 21 when the Yamal system reversed flows.

Europe's gas storage levels are below the five-year average, with the economics for buyers encouraging withdrawals of gas from stocks rather than paying higher prices for Russian supply, analysts say.

In Slovakia, capacity nominations for Russian gas flows from Ukraine via the Velke Kapusany border point, another major route for Russian gas to Europe, rose to their highest since Jan. 1.

Nominations reached 446,332 MWh for Tuesday, which was still well below levels seen in December and 38% below a year ago.

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