Gazprom says gas shipments to Europe continue after Ukraine invasion

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Russian gas exporter Gazprom said Feb. 24 that its shipments of Russian gas via Ukraine to Europe are continuing as normal, hours after officials in Kyiv said Moscow had launched an invasion.

“Gazprom is supplying Russian gas for transit via Ukraine as normal, in line with requests from European consumers,” the company said in a statement.
It added that deliveries on Feb. 24 are set at 83 million cubic meters, a 31.4% increase on Feb. 23.

Europe’s TTF gas price made huge gains in early trade Feb. 24 after Ukraine said Russia had launched a full-scale invasion of the country. The TTF March price rose by as much as 35% in early trading, reaching Eur120/MWh, according to ICE data. The March contract was 28% higher at Eur114/MWh as of 0730 GMT.

Russia’s military attacks in Ukraine are raising risks to flows of Russian gas to Europe. Western countries are also considering introducing new sanctions against Russia, which may impact the ability of Russian gas companies to trade with foreign customers.

Source: Platts