Russian gas exports to Europe through Ukraine, the primary transit route for gas to the EU, were stable on Monday, according to Gazprom, despite the Kremlin-controlled energy company's decision to halt supplies to Austria's OMV.
Gazprom said it would send 42.4 million cubic meters (mcm) of gas to Europe via Ukraine on Monday, the same volume as on Sunday.
Austria's OMV had been receiving about 17 mcm per day from Gazprom before the cut-off, and those volumes are now finding new buyers or middlemen in Europe who stepped in to snap up unsold gas, companies and sources said, and data showed.
Russia, which was the biggest single supplier of gas to Europe before the Ukraine war, has lost most of its buyers on the continent as the European Union tries to cut its dependence on Russian energy.
Dutch and British wholesale prices fluctuated on Monday, supported by colder weather forecasts and a drop in Norwegian supply, but capped by Russian flows via Ukraine remaining stable and more liquefied natural gas (LNG) cargoes heading to Europe.
The benchmark front-month contract at the Dutch TTF hub was up 0.28 euros (30 cents) at 46.00 euros per megawatt hour at 10:30 a.m. GMT, LSEG data showed.
Nominations, or requests, for gas flows into Slovakia from Ukraine were little changed from previous days on Monday, while nominations for flows leaving Slovakia were also stable, data from transmission system operator Eustream showed.
Nominations for flows to Austria from Slovakia were steady versus weekend levels, or around 17% below November's average levels before Russia halted gas supplies to Austria's OMV. Nominations to Czechia from Slovakia were also roughly in line with levels from previous days.
Gazprom on Saturday halted supplies to OMV after the Austrian company threatened to impound some of the Russian state firm's gas as compensation for an arbitration it had won over a contractual dispute.
Russian gas is still being sold in significant volumes to Slovakia and Hungary, as well as to Czechia, which does not have a direct contract. Smaller volumes are going to Italy and Serbia.
Ukraine has said it will not extend a gas transit deal with Russia once a five-year agreement expires at the end of the year.
