Russian gas deliveries to Europe fell 27% in January-April year on year


Bovanenkovo ​​gas field, Russia, May 21, 2019 (AFP/Archives/Alexander NEMENOV)

Deliveries of Russian gas to EU countries and Turkey fell sharply between January and April compared to the same period in 2021, while those to China exploded, Gazprom announced on Sunday.

“Exports to countries outside the CIS (the EU and Turkey, editor’s note) amounted to 50.1 billion cubic meters, or 26.9% less than in the same period of 2021”, indicated in a statement the group controlled by the Russian state, without providing an explanation.

Gazprom says it will continue to supply gas “in full compliance with contractual obligations”.

Over this same period, the gas giant indicated that its production was down 2.5% year on year, to 175.4 billion cubic meters.

Deliveries to the domestic market also fell, by 3.7%, “particularly due to the hot weather in February”.

Exports to China, on the other hand, exploded, climbing by 60% over one year via the Power of Siberia gas pipeline.

Gazprom has also indicated that gas reserves in European underground storage facilities are 6.9 billion cubic meters.

“To reach the 90% filling target for storage facilities set by the European Union, companies will have to pump an additional 56 billion cubic meters of gas,” says Gazprom.

“The reconstitution of gas reserves in underground installations in Europe is a very serious challenge”, assured the group, stressing that the daily delivery capacity had technical limits and that “the total quantity of gas available on the European market depends strongly in demand in the growing Asian market”.

Energy prices are soaring in Europe, as the EU has so far been unable to bring itself to implement an embargo on Russian oil and gas.

In 2021, Gazprom posted a record net profit multiplied by thirteen over one year, to 2.159 billion rubles (nearly 28 billion euros at the current rate), driven by the strong growth in demand for hydrocarbons.

© 2022 AFP

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