Gazprom expects to have record reserves of natural gas next winter
As Gazprom's natural gas exports and production decline, the Russian gas giant expects to have a record level of gas reserves in domestic storage this coming winter.
Gazprom said on Thursday it expects natural gas inventories at Russia's underground storage facilities to reach an all-time high of 72.842 billion cubic meters. The maximum daily capacity of gas reserves is therefore expected at 858.8 million cubic meters, as reported by Reuters.
Gazprom has seen its natural gas exports dwindle in recent months after Russia stopped supplying pipelines to many of its European customers last year.
Russia's pipeline exports of natural gas to Europe fell 11.4 percent between May 1 and May 15 compared to April's average pipeline flows, according to Reuters estimates released earlier this week. week.
Russia still sends gas to Europe through pipelines, thanks to a transit route through Ukraine and TurkStream.
Between May 1 and 15, Gazprom sent 67 million cubic meters of gas per day to Europe, down from 75.6 million cubic meters per day last month, while spot gas prices in Europe are dropped to a 21-month low.
Last month, supplies of Russian gas to Europe increased by 7.5% compared to March, due to higher volumes shipped in transit through Turkey, according to Reuters calculations from the beginning of the month. Gazprom has stopped publishing data on its gas supplies to Europe, making it difficult to assess real volumes.
Russia cut off gas supplies to Poland, Bulgaria and Finland in April and May 2022, reduced gas supplies through Nord Stream to Germany in June, then cut off Nord Stream supplies in early September , weeks before the still mysterious sabotage of the Nord Stream gas pipelines in the Baltic Sea at the end of September.
Germany, Russia's largest gas customer before the Russian invasion of Ukraine, is now not importing any Russian gas via pipeline. Norway became Germany's largest natural gas supplier in 2022, overtaking Russia, while total imports of German gas decreased by 12.3% compared to 2021.
Thanks to our Telegram channel you can stay updated on the publication of new articles from Economic Scenarios.
The article Gazprom expecting to have record reserves of natural gas next winter comes from Scenari Economics .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/gazprom-prevedere-di-avere-riserve-record-di-gas-naturale-il-prossimo-inverno/ on Fri, 19 May 2023 06:00:11 +0000.