Gas transit to EU via Ukraine to plummet one-third on Dec 12, Gazprom redirecting flows, price doubles

13:03, 12.12.2017 1 min read

Transit of Russian gas via Ukraine to Europe along the Uzhgorod corridor could fall by a third on Tuesday due to the explosion at the gas hub in Baumgarten, Austria.

Slovakia's gas transportation operator, Eustream, has lowered its estimate for transit along the corridor on Tuesday to 91 million cubic meters from an actual 139 mcm on Monday. The nomination for Tuesday was 142.2 mcm.

LLC Gazprom Export told reporters it had been informed of the incident at Baumgarten and was "working to redistribute flows gas and doing all it can to ensure undisrupted gas supplies to its clients in that direction."

The day ahead, gas price at Baumgarten opened at $292 per 1,000 cubic meters but has already risen to $413, according to CEGH gas hub data. Same day gas delivery prices are already trading at $537.