What happened to Russian gas flows on 1 October 2021?
A look back at a day when Yamal–Europe deliveries dropped sharply and Ukraine's criticism of a Hungarian gas deal was still fresh.
What happened to Russian gas flowing to Europe on 1 October 2021? As reported at the time, supplies via the Yamal–Europe pipeline fell almost 77% in a single day, and European gas prices rose to an all-time high.
The drop prompted European Parliament lawmakers to request investigations of market manipulation. The picture was not one-sided, however. Gazprom's exports outside the former Soviet Union had risen 15.3% year on year in the first nine months of 2021, and the German utility Uniper confirmed that Russia was fulfilling its contractual obligations.
A deal days earlier
The day followed a gas agreement signed on 27 September 2021 between Hungary and Russia. Under it, Gazprom would supply Hungary with 4.5 billion cubic metres of gas a year via Serbia and Austria for 15 years. Ukraine criticised the pact as a purely political and economically unreasonable decision. Hungarian Foreign Minister Péter Szijjártó responded by accusing Ukraine of meddling in Hungary's internal affairs.
Together, the two reports show how gas supply, pricing and diplomacy were intertwined at the start of October 2021.
