Russian Gas Flows Resume to Europe, Easing Fears

Russia provides a third of Europe’s gas and its supply intentions are critical at a time when a surge in spot prices has hit households and businesses alike in Europe.

Katya Golubkova and Nora Buli, Reuters

Wholesale gas prices fell in Europe on Nov. 9 after Russian gas flows resumed to Germany, raising hopes that Moscow is acting on a pledge to increase supplies and ease concerns about shortages and high prices as winter approaches.

Russia started pumping gas to Germany again late on Nov. 8 via a pipeline from Yamal in Siberia, a day after a halt in exports had pushed up prices in Europe. The gas flows later rose to their highest level in almost two weeks, German data showed.

Russian President Vladimir Putin ordered state gas company Gazprom to increase supplies to Europe and rebuild its inventories there once domestic storage tanks are replenished.

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