British and Dutch gas prices rose on Wednesday morning, still buoyed by concerns about Russian deliveries in the face of demands to pay for them in roubles and as Germany issued an early gas supply emergency warning.

The British gas price for day-ahead delivery was up 42.50 pence at 297.50 pence per therm at 0918 GMT, while the within-day contract jumped 30.50 pence to 284.50 p/therm.

In the Dutch gas market, the day-ahead contract gained 8.45 euros to 116.80 euros per megawatt hour (MWh), and the front month contract was up 18.50 euros at 124.50 euros/MWh.

Germany on Wednesday declared an “early warning” of a possible gas supply emergency, saying the measure was designed to prepare for the risk of disruption or stoppage of natural gas flows from Russia.

The market reaction to the news was “pretty strong”, a trader said.

Any news regarding the Russian request for gas payments to Gazprom in roubles and any progress on discussions on joint procurement of natural gas in the European Union are expected to have a significant impact on gas prices, analysts at Refinitiv said in a morning report.

Russia’s President Vladimir Putin last week demanded that certain countries pay for Russian gas in roubles not euros. Gazprom and the central bank are due to present the mechanism for this switch to Putin on Thursday.

Meanwhile, Russian gas exports via Ukraine to Europe by state-owned Gazprom remained stable on Wednesday, the company said.

At the same time, westwards flows into Germany on the Yamal-Europe pipeline emerged on Wednesday for the first time in two weeks.

The fundamental view was mostly bearish amid softer near-term demand on rising wind output, higher Norwegian exports and a busy UK arrival schedule for liquefied natural gas (LNG) tankers, Refinitiv said.

In the European carbon market, the benchmark contract was down by 4.65 euro to 77.05 euros a tonne.