European Gas Dynamics Amid Russian Supply Adjustments

Despite a cut in Russian gas supplies to Austria, Gazprom maintains stable exports to Europe via Ukraine. The EU is reducing dependency on Russian energy, causing shifts in gas distribution. With reduced Norwegian supply and stable Russian flows, Dutch and British prices fluctuate amid weather changes.

Russian gas exports to Europe through Ukraine remained stable on Monday, according to Gazprom, the Kremlin-controlled energy giant. This steady flow persists despite a halt in supplies to Austria's OMV.

Gazprom committed to sending 42.4 million cubic meters of gas to Europe via Ukraine on Monday, matching Sunday's volume. Before the halt, Austria's OMV had received roughly 17 mcm daily, which new buyers in Europe have now absorbed, as reported by companies and shown by data.

Post-Ukraine war, Russia, once Europe's largest gas supplier, has seen a decline in European buyers as the EU seeks energy independence. Colder forecasts and reduced Norwegian supply led to fluctuations in Dutch and British prices, countered by stable Russian flows and increased LNG cargoes to Europe.

(With inputs from agencies.)