Europe Gas Jumps on Signs Russian Flows Won’t Get Promised Boost

(Bloomberg) --

European gas surged on signs Russia won’t deliver the boost in supplies President Vladimir Putin promised. At least not on Monday.

Benchmark futures traded in the Netherlands surged as much as 9.7% as gas orders via a key Russian pipeline signaled shipments will remain well below normal on Monday. There was also no extra capacity booked to send additional supplies to Europe in auctions on Sunday.

Europe’s biggest supplier of the fuel had promised to send more gas to the region starting Monday, With Putin ordering Gazprom to fill its European storage sites following the completion of Russia’s domestic stockpiling campaign. The lack of additional flows is a disappointment for traders who had been counting on Putin’s promise to ease the continent’s supply crunch.

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