In 2023, exports of Russian gas to Europe via pipeline have more than halved
Gazprom's pipeline natural gas exports to Europe slumped 55.6% in 2023, after Russia cut supplies to several EU countries and Nord Stream leaked into the Baltic Sea in late 2022. That is, they have more than halved.
Daily volumes of Russian gas via pipeline to Europe slumped to 77.6 million cubic meters in 2023 from 174.8 million cubic meters in 2022 , according to Reuters estimates based on data from the European Gas Transport Group Entsog and Gazprom's daily reports on transit through Ukraine.
After Russia's invasion of Ukraine, Gazprom stopped publishing data on its natural gas exports to Europe via pipelines, but the data is recoverable from gas arriving in Europe.
Gazprom reported a sharp drop in net profit for the first half of 2023, as supplies to Europe slumped compared to the same period in 2022, when Russia was still supplying gas via pipeline to its European customers.
The sharp decline in Gazprom's gas supplies to major customers is due to the disruption of Russian gas exports via pipeline 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, citing an inability to service gas turbines outside Russia due to Western sanctions against Moscow over its invasion of 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. China has become a priority destination for Gazprom after the break with Europe.
Last year, Gazprom CEO Alexey Miller said Russia could soon supply China with volumes of gas comparable to what Moscow sent to Western Europe before invading Ukraine.
Analysts doubt that Russia can increase volumes to China at such levels for at least another seven years, both due to a lack of infrastructure and because Beijing does not like dependence on a single source, as Germany did at the time. However, much Russian natural gas now travels around the world in the form of liquefied natural gas.
Thanks to our Telegram channel you can stay updated on the publication of new Economic Scenarios articles.
The article In 2023, Russian gas exports to Europe via pipeline have more than halved comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/nel-2023-le-esportazioni-di-gas-russo-in-europa-via-gasdotto-si-sono-piu-che-dimezzatee/ on Wed, 03 Jan 2024 09:30:49 +0000.