Nord Stream AG confirms that Russia has started delivering gas to Europe via the largest gas pipeline after a 10-day break for scheduled maintenance
Gas pumping began on Thursday, July 21, however, it will take time to restore the volume to previous levels.
The resumption of supplies will partly relieve pressure on the continent, which is trying to stock up on gas before the start of winter. Applications for gas shipments indicate that pipeline exports will recover to 40% of the pipe’s throughput, that is, to pre-maintenance volumes.
Goldman Sachs Group believes that if supplies are restored to 40%, natural gas prices will fly down.
“Many customers have been betting that gas supplies through the pipeline will remain at zero after the completion of the maintenance. This means that prices will fall from current levels,” the analysts wrote.