European natural gas declines with flows from Russia stable

Bloomberg

Benchmark European natural gas prices declined for a seventh consecutive session, with Russian flows to the continent continuing while the war in Ukraine grinds on.
Orders for Russian gas shipments via Ukraine edged higher, but remained below capacity, while the Yamal-Europe pipeline continued to flow eastward to Poland from Germany. Gas transiting Russia’s main pipeline link to Europe, Nord Stream, remain high and stable.
While the European Union last week agreed to ban coal imports from Russia — the first time the bloc’s sanctions have targeted Moscow’s energy revenues — gas continues to be spared from penalties aimed at the country for its invasion of Ukraine.
The EU has a contingency plan to help Ukraine and Moldova with reverse gas flows if the war causes disruptions to supplies from Russia, European Energy Commissioner Kadri Simson told reporters in Vienna. She added that the bloc can’t currently treat Russia as a trustworthy partner and that disruptions may happen. Austria’s Chancellor Karl Nehammer will meet Vladimir Putin in Moscow in an attempt to build dialogue with the Russian president. The Kremlin said the two leaders may discuss gas issues.
“The first face-to-face meeting between President Putin and a European leader offers greater prospects for an end” to the conflict, consultant Inspired Energy Plc said. However, earlier talks between Putin and other European leaders, including French President Emmanuel Macron, have failed to yield any meaningful concessions.
Electricity generation from wind power is forecast to stay low in Germany for the next two weeks, buoying demand for gas as the winter heating season draws to a close.