Europe & Russia: Trade
Russian exports to Europe are set to rise on an annual basis in September despite maintenance on Nord Stream.
The Nord Stream pipeline was closed for annual maintenance on 11 September and is due to remain offline until 22 September. However, Russian exports of gas to Europe will still rise during the month, albeit at a reduced pace compared with recent months. Europe is expected to import 5% more Russian gas on an annual basis in September, bringing supplies to 14.6 bcm. This follows a year-on-year rise of 8.9% in August, when flows rose to 15.6 bcm. Maintenance has hit European supplies in September, but volumes from Russia will support stock builds in the region over the coming weeks.