Russia’s Pipeline Gas Exports To Europe Slump To Record Low

Russia’s pipeline gas exports to Europe slumped to a new monthly record-low in January, falling by nearly 30% from December due to lower prices on the spot market, according to Reuters calculations.

Russia’s gas giant Gazprom has seen exports to Europe decline since the Russian invasion of Ukraine last year as Russia cut off gas supplies to a number of countries in Europe. Russia cut off supply to Poland, Bulgaria, and Finland in April and May, slashed gas deliveries via Nord Stream to Germany in June, then off Nord Stream supply in early September.

Russia still sends some gas via pipelines to Europe via one transit route through Ukraine, and via TurkStream.

This month, Gazprom has reduced pipeline gas transit flows to Europe via Ukraine on some days. Analysts have said that the lower pipeline flows were the result of lower demand for gas under long-term contracts, considering the milder weather in parts of Europe earlier in January and the fact that spot supply is currently cheaper.

Per Reuters calculations, which are based on daily data of flows from Russia via the transit route through Ukraine and via TurkStream, pipeline gas exports from Russia to Europe dropped to around some 1.8 billion cubic meters (bcm) in January, down from 2.5 bcm in December.

Gazprom hasn’t released January export data yet, but its exports to Europe via pipelines plunged to a post-Soviet low in 2022, according to data from the Russian firm calculated by Reuters. Last year’s Russian gas exports slumped by 45% year on year to reach 100.9 bcm in 2022.

Germany, Russia’s biggest customer of gas before the Russian invasion of Ukraine, doesn’t import any Russian gas via pipeline now. Norway became Germany’s single-largest natural gas supplier in 2022, overtaking Russia, as total German gas imports dropped by 12.3% compared to 2021.

via zerohedge

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get your Real American news:

Let's Get Social:

Latest posts

GUILTY PLEA In Trump’s GA Case

Trump attorney Jenna Ellis pleaded guilty in Fani Willis’ Georgia election case in exchange for reduced charges.Ellis is the fourth co-defendant and third attorney...

BREAKING! Speaker Race – GOP Rep Wins Lates Secret Ballot

Representative Mike Johnson (R-LA 4th District), vice chair of the House GOP conference, has been named the GOP Speaker-Designate.The announcement came after a closed-door...

SHAMELESS: The ‘Squad’ Member Who Backs Hamas

When it comes to picking the “worst” member of the progressive “squad” of Democratic lawmakers, one certainly wouldn’t be lacking in options.You have Rep....

Get your Real American news