HomeNewsRussian piped gas exports to Europe up 4.5% in August

Russian piped gas exports to Europe up 4.5% in August

8/15/2023

(Reuters) - Pipeline natural gas exports to Europe by Russia's Gazprom rose 4.5% in the first half of August from July's average, remaining at the maximum levels of this year, according to Reuters calculations on Tuesday based on volumes supplied via Ukraine and TurkStream.

The Sudzha metering point on the Russia-Ukraine border, as well as the TurkStream pipeline that crosses the Black Sea, are the only functioning routes for piping Russian gas to Europe.

As almost all of Gazprom’s contracts have built-in time lags, they improve when spot prices rise.

Average daily pipeline exports in August rose to 90.5 million cubic meters (mcm) from 86.6 mcm in July, according to calculations based on data from European gas transmission group Entsog and Gazprom's daily reports on gas transits via Ukraine.

Gazprom has suspended the disclosure of its exports data. The company did not respond to a request for comment.

Gazprom's total natural gas supplies to the European Union stood at around 1.36 billion cubic meters (bcm) in August.

Of that, some 726 million cubic meters, or 48.4 million cubic meters per day, were sent via the TurkStream, the highest since January, according to Reuters' calculations.

Russia's piped gas exports to Europe stand at around 16.2 bcm this year. They totaled 62 bcm for the whole of 2022.

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