OIES Podcast: Russia-Ukraine War – Impact on Energy Markets Series – 1

In this first of a new series of podcasts, OIES presents a regular review of the impact of the Russia-Ukraine war on energy markets. James Henderson interviews Mike Fulwood and Jack Sharples on the drivers of current price dynamics, the situation with Russian gas flows to Europe, the availability of LNG supply to Europe and the impact of demand in Asia, and the current status of gas storage in Europe. In the second half of the podcast the discussion turns to Russia’s current demand for rouble payment for its gas exports, and Agniezska Ason describes the mechanism which has been mandated by the Kremlin for future use by European buyers and its implications. She discusses the significant potential legal impact of the change which the Kremlin is insisting upon and the potential for it to catalyse a significant pushback from buyers, which could in turn lead to the Russian Customs authorities insisting that Gazprom halts supplies.