In June Gazprom exported 23% more gas to Europe than last year
Russian gas giant Gazprom shipped 23% higher volumes of natural gas via pipeline to Europe in June compared to the same month last year, according to Reuters estimates .
Gazprom's pipeline gas deliveries reached an average daily volume of 81.8 million cubic meters (mcm) in June, compared to 66.8 mcm in June last year, according to Reuters calculations based on group data European gas transport company Entsog and on Gazprom's daily reports on gas transit through Ukraine.
Gazprom's export volumes in June 2024 decreased from the daily volume of 89.5 mcm in May, due to TurkStream maintenance in early June. Gazprom stopped reporting monthly export data at the beginning of 2023.
Russia saw its gas exports to Europe significantly reduced after invading Ukraine. The biggest drop in Gazprom's gas deliveries was due to the disruption of gas exports from Russian pipelines to almost all European countries. Weeks after Russia's invasion of Ukraine in early 2022, Russia cut off supplies to Poland, Bulgaria and Finland.
Then Gazprom began reducing supplies through the Nord Stream pipeline to Germany in June 2022, claiming it was impossible to service gas turbines outside Russia due to Western sanctions against Moscow for invading Ukraine. This was weeks before the sabotage of the Nord Stream pipelines in late September 2022, which permanently closed all Russian gas routes to Germany.
Before the war in Ukraine, Russia supplied about a third of all gas to Europe. Last year, Gazprom's pipeline gas exports to Europe slumped 55.6% compared to 2022.
As a result, Gazprom posted its first annual net loss in 23 years , signaling a significant change in financial performance attributed to declining gas shipments to Europe and pricing pressures.
Russian gas supplies in May and June were above last year's low levels, but it is uncertain whether these increased supplies can last. Uncertainty over Russian gas supplies led to brief price spikes in Europe's benchmark gas prices last month after German energy giant Uniper terminated its long-term deal to supply Russian gas and OMV warned that Gazprom could cut off gas supplies to Austria due to a foreign court ruling that could stop OMV's payments to Gazprom Export, without specifying the case.
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The article In June Gazprom exported 23% more gas to Europe than last year comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/a-giugno-gazprom-ha-esportato-il-23-in-piu-di-gas-in-europa-rispetto-lo-scorso-anno/ on Wed, 03 Jul 2024 05:15:47 +0000.