Free Trial

Russian Pipeline Gas Exports to Europe up 30% in July

NATURAL GAS

Russian average gas exports to Europe via pipeline rose 29.6% from June to 86.6 mcm, the highest in 2023, according to Reuters calculations.

  • Currently, The Suzhda metering point via Ukraine and the TurkStream pipeline are the only functioning routes for Russian pipeline gas.
  • Gazprom, the provider of Russian pipeline gas, has built in time lags in its contracts which improve when prices are rising.
  • The company’s competitiveness in supplying Europe has been boosted since July 1, when its forwards contract repriced downwards and at the same time, European spot gas prices rebounded from the lows seen in June.
  • The International Energy Agency (IEA) warned in July that Europe could still suffer a very tough winter if Russia halts its remaining natural gas deliveries to the continent, despite declining to a post-Soviet low.

To read the full story

Close

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.