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Russian Pipeline Gas Flows to Europe Rise

NATURAL GAS

Russian pipeline exports to Europe maintained their recent increase in the first half of August, with daily flows at their highest levels since Aug. 2022, according to Energy Intelligence.

  • Combined flows via the two remaining gas pipeline routes – excluding flows through Turkey – rose 6% compared with the first half of July to 1.36 Bcm, averaging 90.4 mcm/d.
  • Exports have risen in July and August since Gazprom’s hub-linked prices fell, making pipeline gas offtakes more attractive compared to LNG.
  • While flows have increased on the month, flows in H1 2023 were 86% of their pre-war levels in H1 2021.
  • Russian gas flows have stopped flowing completely to over 15 EU countries, including Germany, while flows still arrive in Slovakia, Austria, and Italy.
  • Countries in the Balkans still receive Russian pipeline gas indirectly via the Turk Stream pipeline which runs through Turkey.
Energy BulletsCommodities
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