For the first time in a long time: Gazprom has started to increase gas supplies to Europe, including through Ukraine
For the first time in a long time, the Russian gas company Gazprom has booked transport facilities for the transit of natural gas to the European Union. As of February 1, Gazprom’s application for transit through Ukraine amounted to 107.7 million cubic meters.
Ukraine , Ukraingate , 2 , February , 2022 | Economy
Details
It is noted that as far as transit to Ukraine is concerned, it is close to the maximum contractual volume of transit capacity of 109 million cubic meters. This is about twice the average pumping in January this year.
Thus, applications for gas pumping the day before – on January 31 – amounted to 64.6 million cubic meters. Thus, the figure increased almost 1.7 times.
This is after Russia has sharply reduced gas transit through Ukraine since the beginning of 2022.
Also, according to data published on the GSA Platform, Gazprom booked for the first time in 43 days on Tuesday, February 1, part of the capacity of the Yamal-Europe pipeline for the transit of natural gas through Poland.
According to the information, 12.53 million cubic meters of gas will be pumped through Yamal-Europe on February 2.
Addition
Europe is struggling with the energy crisis, which has broken gas and electricity prices in several records in recent months.
Significant growth in gas prices in Europe began in the spring of 2021, when the average spot price on the TTF index ranged from $ 250 to $ 300 per thousand cubic meters. In the last days of summer, the cost of a day-ahead supply contract exceeded $ 600, and in early October it became more than $ 1,000. In December, quotations doubled, reaching an all-time high of $ 2,190. There have never been such high prices in Europe in the history of gas hubs, the first of which, the British NBP, was established in 1996.
The sharp rise in energy prices, combined with shortages, has led European officials to accuse Russia of cutting supplies to pressure the authorities to certify the new pipeline. In particular, Russian President Vladimir Putin has promised to increase gas supplies, saying Nord Stream 2 could be launched “the day after” such approval.
IEA Chairman Fatih Birol has blamed Russia for an energy crisis that is damaging Europe’s economy.
On January 24, Gazprom announced a “historically low” level of gas reserves in Ukraine and Europe
For reference
The Yamal-Europe highway runs through Russia, Belarus, Poland and Germany. The capacity of the pipeline is 33 billion cubic meters per year. Gazprom stopped pumping gas to the European Union in the direct direction on December 21 due to “non-receipt of applications from European consumers.”
Source: Ukrgate
