Analysts expect a record drop in Russian gas supplies to Europe in August
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Deliveries of Russian pipeline gas to Europe this month will fall to a new historical low, predicts Energy Development Center. He expects that by the end of 2022, Gazprom’s production may fall below 400 billion cubic meters for the first time. m.
According to the report (.pdf) center, in July, Gazprom delivered to the European Union (EU) about 3.5 billion cubic meters. m. This is 25% less than in June. However, the holding’s revenue has grown, experts say, without citing specific figures. In addition, the price of gas in Europe increased by 60% by June.
As noted in the center, in order to compensate for the next drop in supplies through the Nord Stream, gas should rise in price by another 25% in August. “We consider such an increase unlikely, since current gas prices are already critically unacceptable for the European industry, and their further growth will only lead to a reduction in consumption in the EU,” the report says.
The center also draws attention to the fact that, despite the decrease in supplies via Nord Stream at the end of July, the rate of filling German UGS facilities is only growing. “If such rates continue throughout August, then this month Germany will be able to fulfill its goal of filling UGS facilities by 95% by the heating season,” experts say.
Gazprom’s exports to non-CIS countries over seven and a half months fell by 36.2% compared to the same period last year, to 78.5 billion cubic meters. m of gas. This week gas prices in Europe reached $2.6 thousand per 1 thousand cubic meters. m. “Gazprom” believes that in winter prices may rise to $4 thousand per 1 thousand cubic meters. m, setting a new record.
Details – in the material “Kommersant” “Gas does not go to Europe”.
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