HomeNewsRussia's May pipeline gas exports to Europe jump 39%

Russia's May pipeline gas exports to Europe jump 39%

6/3/2024

MOSCOW (Reuters)—Russian energy giant Gazprom's average daily natural gas supplies to Europe in May rose by 7.3% from April and 39% year on year, Reuters calculations showed on Monday.

The calculations, based on data from the European gas transmission group Entsog and Gazprom's daily reports on gas transit via Ukraine, showed that average daily pipeline exports to Europe increased to 89.5 MMm3 last month from 83.4 MMm3 in April and 64.5 MMm3 in May 2023.

Gazprom's natural gas exports to Europe so far this year have reached about 13 Bm3. Europe was once Russia's primary export market but now receives much less Russian gas as a result of the political response to the conflict in Ukraine.

Gazprom has not published its own monthly statistics since the start of 2023. It did not respond to a request for comment.

Russia supplied a total of about 63.8 Bm3 of gas to Europe by various routes in 2022, according to Gazprom data and Reuters calculations. The volume decreased further, by 55.6%, to 28.3 Bm3 last year.

Gazprom incurred losses of almost $7 B in 2023—its first annual loss since 1999—owing to falling gas exports to Europe. At their peak in 2018–2019, annual flows to the region reached between 175 Bm3 and 180 Bm3.

(Reporting by Oksana KobzevaWriting by Vladimir SoldatkinEditing by David Goodman)

 

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