EU countries offer Russian gas to their neighbors - media

According to the Financial Times, Greece and Germany want to increase reverse gas supplies to Poland and Bulgaria.

Germany and Greece are preparing to send more gas to Poland and Bulgaria after Russia's Gazprom cut supplies this week, according to the Financial Times, citing market and port data.

Orders for gas to flow through the pipeline at Sidirokastro, a border crossing point between Greece and Bulgaria, increased on Thursday, according to data posted by the Hellenic Gas Transmission System Operator, with higher volumes exiting towards Bulgaria than those heading south to Greece.

According to Tom Marzec-Manser, the head of gas analytics at ICIS, such activity indicates that Greek gas company DEPA is engaging in swaps to sell its gas to Bulgaria.

Data from Germany's gas transmission operator Cascade also revealed increased gas flows at Mallow, the Yamal-Europe pipeline's key border crossing point between Germany and Poland. On Thursday, the flow increased to 12.7 million kilowatt hours per hour. Previously, the highest level this month had been just under nine million kWh/h.

Meanwhile, the increased flows threaten to aggravate the already precarious situation with German underground gas storage facilities, which are expected to be at least 80% full by the start of the offtake season in the fall. "Restoring gas reserves in European storage facilities is a very serious challenge," according to Gazprom.

The Russian energy giant announced a complete halt in gas exports to Bulgaria and Poland on Wednesday after the two countries refused to pay in rubles. Supplies will not resume until Sofia and Warsaw comply with the new terms, according to Gazprom.

The Russian gas producer has also warned that if either country diverted supplies transiting to other European countries, volumes would be reduced proportionally.

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