Natural Gas: Shipments from Russia have not increased, despite promises
Bad news from the point of view of Natural Gas, in an already very tense situation due to the price increase in October. Russia, according to Oilprice , has not objectively increased the supply of natural gas to Europe, despite assurances from Russian President Vladimir Putin that Gazprom would send more gas after the completion of storage in Russia.
In November, Russian gas supply to Europe fluctuated as gas flows on the Yamal-Europe pipeline through Belarus to Poland and Germany were low or non-existent in a few days, if at all. reverse flows from Western Europe to Poland
The uncertainty about how many additional volumes Gazprom regarding its contracts will certainly affect the value of forward gas prices in Western Europe, which is already skyrocketing. Furthermore, which few people know, the price of gas determines the price of energy on the European exchange markets.
The market was expecting an increase in Russian flows on November 8, the date Putin gave Gazprom to potentially increase supplies after filling Russia's storage. When the largest flows from Russia did not materialize on that date, natural gas prices in Europe rose.
Incidentally, Gazprom has not booked materially higher extra capacity for Germany and Ukraine. The company says it continues to fulfill all contractual obligations and said earlier this week that its exports to Europe increased 6.6% between January and November.
While the European market is wary of the volatility of daily supply from existing Russian gas pipelines, the German Federal Network Agency, Bundesnetzagentur, suspended on November 16 the procedure to certify Nord Stream 2 AG as an independent transmission operator until a Operator of the pipeline in Germany is under German law.
Russia's inconsistency in reserving extra pipeline capacity to Europe and volatile pipeline supply in recent weeks could continue for months, as it is likely linked to the approval of Nord Stream 2, the Polish minister told Bloomberg for climate and environment, Anna Moskwa, in an interview this week.
"Until the Nord Stream 2 issue is finalized, we cannot be sure of Gazprom's behavior," said the minister. “We are convinced that this is a mechanism linked to the certification process. And the certification process will still take some time, ”he added.
So until the certification of the new Nord Stream 2 is carried out and the political situation has not been normalized, Russian gas supplies will remain a big question mark, with strong possibilities of price explosions to levels that are not tolerable for the economic and industrial system. European.
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The article Natural Gas: shipments from Russia have not increased, despite the promises comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/gas-naturale-gli-invii-dalla-russia-non-sono-aumentati-nonostante-le-promesse/ on Fri, 03 Dec 2021 23:29:13 +0000.