OGZPY - Russia fails to ramp up gas supplies to Europe in auction

Gazprom (OTCPK:OGZPY) did not book extra capacity to ship more gas to Europe at auctions today, Reuters reports, a step that would have helped ease prices in a market worried about the intentions of the Russian government. The Kremlin says it remains committed to begin pumping more gas to Europe once domestic storage tanks are replenished, as ordered last week by Vladimir Putin. Russia has said it is meeting its contractual obligations, but Gazprom's failure to book additional gas transit capacity via Ukraine and Poland to Europe for January-September could indicate it has no plans to supply anything above  its contractual volumes, at least through the two key routes. A senior director at Fitch Ratings tells Reuters that the Nord Stream 2 pipeline is the likely reason why Gazprom had held back from booking more gas transit capacity through Ukraine or via the Yamal pipeline across Belarus. "Gazprom is presumably

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Russia fails to ramp up gas supplies to Europe in auction