# Explainer: Why Russian exports hold sway over European and British gas prices

> This explainer describes how Russia's gas supply feeds into interconnected European and British gas markets through pipeline networks. When Russian flows fall, countries must replace supply from other sources such as Norway. The piece provides background rather than reporting a new event.

- Date: 2021-11-03 · published 2021-11-03T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude low
- Page: https://feedsoft.ai/events/44229-explainer-why-russian-exports-hold-sway-over-european-and-british-gas-prices
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Russian supply reductions tighten European gas and push up prices, which raises fertilizer and energy costs for agriculture. The mechanism supports a bullish gas outlook but offers no new supply shock.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-07-10 | [Explainer: Why Russia drives European and British gas prices](https://feedsoft.ai/events/40669-explainer-why-russia-drives-european-and-british-gas-prices.md) | +9.5% | +31.7% |
| NATGAS | 2022-02-24 | [European gas prices soar and oil tops $105 after Russia attacks Ukraine](https://feedsoft.ai/events/42882-european-gas-prices-soar-and-oil-tops-105-after-russia-attacks-ukraine.md) | +2.2% | +13.9% |
| NATGAS | 2021-10-01 | [European gas prices hit all-time highs as Russian flows slump \| Reuters](https://feedsoft.ai/events/44762-european-gas-prices-hit-all-time-highs-as-russian-flows-slump-reuters.md) | -0.5% | +0.2% |
| NATGAS | 2023-10-30 | [European Natural Gas Prices Gain as Egypt Says Pipeline Imports Stop – LNG Recap](https://feedsoft.ai/events/33804-european-natural-gas-prices-gain-as-egypt-says-pipeline-imports-stop-lng-recap.md) | +1.4% | -13.0% |
| NATGAS | 2022-07-29 | [European Natural Gas, Asian LNG Prices Soar on NS1 Supply Cuts](https://feedsoft.ai/events/40665-european-natural-gas-asian-lng-prices-soar-on-ns1-supply-cuts.md) | -2.1% | +11.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/why-russian-exports-hold-sway-over-european-british-gas-prices-2021-11-03/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.