From Tuesday to Wednesday, the consolidated volume of natural gas transmitted via three big Russian export channels toward Europe decreased from 250 million to 230 million meters³, with supply on Wednesday hitting the lowest level since Russia invaded Ukraine on Feb. 24, writes Norwegian media Montel citing fuel transmission data.

“In the last couple of days the [title transfer facility] day-ahead [contract] has come down sharply meaning that for some buyers of Russian long-term contract gas, it is now economically prudent to reduce nominations from Gazprom and instead purchase on the spot market,” says Tom Marzec-Manser, head of gas analytics at Icis, to the media.

Since the invasion of Ukraine, a long row of western energy companies have severed ties to the war-waging nation, which at the same time has been slapped with a series of economic sanctions in response to the Kremlin's aggression.

Utility Ørsted is maintaining its contract with Gazprom because the deal cannot be annulled, says the Danish power company, which has decided to donate possible profit made from the contract to humanitarian relief in Ukraine.

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