Despite Russian-owned Gazprom boosting supply to storage facilities in Europe, the bloc still can’t seem to get a break. On Thursday, natural gas volumes delivered from Russia through Belarus plummeted by more than a third, right after the country’s president threatened to cut off the EU’s supplies in retaliation to sanctions.
According to data from German pipeline network operator Gascade, natural gas volume to Germany via the Yamal-Europe pipeline stood at only 695,000 cubic meters on Thursday morning, which is substantially lower than the one million cubic meters that typically flows through the pipeline. The Yamal-Europe pipeline runs from the Yamal peninsula through Belarus and Poland, and then to Frankfurt-an-der-Oder in Germany.
Incidentally, the sharp drop in volume was also the same day that Belarusian President Alexander Lukashenko vowed to halt gas transit from Minsk if Brussels imposes additional sanctions over the country’s handling of the border crisis. “We are heating Europe, and they are threatening us that they are going to close the border,” Lukashenko was quoted as saying by local media BelTA. “What if we cut off the natural gas supply there? Therefore, I would recommend the leadership of Poland, Lithuania, and other heedless people to think before they speak.”
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Lukashenko was referring to reports that Brussels was mulling a fifth round of sanctions against Belarus, as international concern continues to mount over escalating tensions at the Belarus-Poland border, where migrants from Iraq, Syria, and Yemen have gathered over the past week. Brussels is accusing Lukashenko of aiding in the migrant surge in an effort to destabilize Europe’s borders. If materialized, the latest round of sanctions would target 30 Belarusian officials, as well as the country’s airline Belavia.
Information for this briefing was found via BelTA and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
