Gazprom PJSC has reduced deliveries of natural gas to some of Europe’s biggest buyers and Russia has warned that further cuts could be ahead, sending benchmark prices on the continent higher Thursday. 

Germany’s Uniper SE confirmed Russian deliveries have been cut by 25%, while Italy’s Eni SpA said flows have been reduced by 15%. Czech Republic utility Cez Group said volumes from Russia have dipped by similar amounts, while Austria’s OMV AG has also seen reductions this week. 

Germany and Italy are Europe’s largest gas consumers. The reductions come at a time when the Freeport liquefied natural gas export terminal in Texas is offline through the end of the year after an explosion last week, which is likely to further cut into Europe’s supplies. 

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