Gas prices soar as Russia imposes sanctions on European Gazprom units

Berlin — Pressure on Europe to secure alternative gas supplies increased on Thursday as Moscow imposed sanctions on European subsidiaries of state-owned Gazprom a day after Ukraine stopped a major gas transit route, pushing prices higher.

The affected entities, listed on a Russian government website, are largely based in countries that have imposed sanctions on Russia in response to its invasion of Ukraine, most of them members of the EU. Wingas has said it would continue operating but would be exposed to shortages. Rivals Uniper, VNG or RWE could be potential sources of supply to the market. Russian gas flows to Germany continue via the Nord Stream 1 pipeline under the Baltic Sea.

Exit flows into Poland at the Mallnow metering point on the German border stood at 9,734,151 kWh/h on Thursday, down from roughly 10,400,000 kWh/h the previous day, data from the Gascade pipeline operator showed. The Sokhranovka gas transit point will not be reopened until Kyiv obtains full control over its pipeline system, the head of operator GTSOU said, adding that flows could be redirected to the alternative Sudzha transit point, though Gazprom has said this is not technologically possible.

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