(Bloomberg). — European natural gas prices edged lower due to weather forecasts, stable supplies and some worries despite uncertainties over Russia’s future exports. 

The temperature dropped by as high as 5.1%, with warm temperatures in the second-half of March and an influx of liquefied natural gases cargoes expected to arrive. In some parts of Europe, wind output is also very high.

United States, European Union, and Group of Seven have teamed up to impose new sanctions on Moscow. The EU is considering a proposal for a mandatory phaseout on coal from Russia, but isn’t planning to sanction oil or gas for now, according to people familiar with the matter. 

Ukraine Update: Russia Sanctions Increased; Zelenskiy Rebukes UN

Despite the steady flow of Russian gas, which is still a focus for now, President Vladimir Putin initiated last week ruble payments to fuel. Major European buyers are still evaluating the implications of this move, while some small-scale consumers, such as Lithuania, have rejected Russian demand. 

Russia is prepared to cut gas supplies to Denmark if local buyer Orsted (OTC:) AS doesn’t make its next payment in rubles, newspaper Borsen reported, citing Russia’s ambassador to the country. This sends a worrying message to the EU, which will require additional fuel volumes even during summer to refill its gas storage units before next winter.

According to the contract, payments for Russian gas delivered in April will be due in late May or early June. 

Dutch benchmark gas traded 1.4% lower at €107 per megawatt hour by Amsterdam’s 8:43 am.

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