EU agrees historic phase-out of Russian gas by 2027
December 3, 2025
Nord Stream is coming back: first nomination data indicates that Nord Stream will restart flowing gas from tomorrow.
A few caveats around this:
(1) nominations does not necessarily equate flows and can be revised down significantly;
(2) current nominations suggests that we are returning to the 63 mcm/d: a far cry from the historic average of 158 mcm/d;
(3) Putin already warned that flows could drop to 30 mcm/d in the coming days, as one additional turbine might go out of service…
What is your view? What is next for Nord Stream flows?
Source: Greg MOLNAR
