OIES Podcast – Impact of Russia-Ukraine War on Energy Markets Series – 10

In this latest OIES podcast James Henderson discusses the latest developments in Russian gas flows to Europe with Mike Fulwood and Jack Sharples following some dramatic rises in the European gas price catalysed by a reduction in volumes arriving through Nord Stream 1. The team review the key reasons for the reduction in activity on Nord Stream 1 (issues with compressors sanctioned in Canada) and assess why Gazprom has not used alternative routes to fulfil its contractual obligations. They consider the short and long-term implications of this developing situation and take a more cautious view on the levels of gas being injected into storage and the outlook for winter. They also discuss LNG flows in the global gas market and the implications for Europe, while also debating potential demand responses across the European gas economy.