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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATURAL GAS
Gazprom gas sales to China increased by more than 40% on the year in the first half of 2023 reflecting higher oil prices in mid-2022 according to Energy Intelligence based on the Chinese customs data.
- Assuming Power of Siberia pipeline exports slightly exceeded contracted volumes agreed at 22bcm for 2023 the average price in H1 was close to 300$/mcm from 210$/mcm a year ago.
- The 38bcm/yr Gazprom gas supply deal with China National Petroleum Corp is allegedly oil linked with a 10% slope and nine-month lag and therefore would currently reflect the oil price spike above $100/bbl last year.
- Gazprom’s average price in Europe fell to 530$/mcm in H1 2023, down from above 1,000$/mcm for the full year 2022.
- The marginal cost of Gazprom’s supplies to Europe is estimated at around 120$/mcm, including the 30% export duty, with Power of Siberia at 170$/mcm.
Source: Energy Intelligence
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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