Gas flow from Russia to Europe continues

Regardless of Russia’s assault on Ukraine, the cargo of Russian pure gasoline to Europe continues to improve.

Gazprom’s pure gasoline shipments to the European Union (EU) through Ukraine had been on the stage of 109 million cubic meters per day on 1 December 2021.

Whereas Gazprom’s shipments decreased to 74.4 million cubic meters as of January 1, it’s seen that there was a rise in gasoline flow to Europe since February 24, when Russia’s assault on Ukraine started.

109 MILLION CUBE METERS OF GAS FLOW FINALLY HAS BEEN PROVIDED

Accordingly, Gazprom despatched 62 million cubic meters of pure gasoline to Europe through Ukraine on February 23, whereas this determine amounted to 110 million cubic meters on February 25 and 109 million cubic meters on February 26.

Gazprom’s Consultant, Sergey Kupriyanov, stated in a press release on February 28 that Russian gasoline shipments to Europe through Ukraine are of their regular course, with a median of 100 million cubic meters per day.

EUROPE’S HIGH DEPENDENCE ON RUSSIA FOR NATURAL GAS

Europe imports about 40 % of the pure gasoline it consumes, in different phrases 175 billion cubic meters, from Russia.

In accordance to Gazprom information, the quantity of pure gasoline the corporate despatched to Europe through Ukraine final yr was round 42 billion cubic meters.

EU COUNTRIES ARE CONCERNED

After Russia’s assault on Ukraine, the EU nations’ implementation of complete sanctions in opposition to Russia raises issues that Gazprom will cut back its shipments or that there could also be issues within the pipelines in Ukraine.

The worth of March futures contracts traded at TTF, the Netherlands-based digital pure gasoline buying and selling level with the deepest depth in Europe, elevated by greater than 50 % immediately, approaching 200 euros per megawatt-hour.

RUSSIA IS THE MAIN SUPPLIER IN OIL

Russia stands out as the biggest provider of oil imports in Europe.

Russia provided 113 million tons of oil to Europe, which imported 440 million tons of oil in 2020.

It’s noteworthy that the European authorities have stayed away from restrictions on power exports within the sanctions which were introduced in opposition to Russia thus far.

SANCTIONS ARE LIMITED

Whereas British Overseas Minister Liz Truss prompt limiting the imports of Russian pure gasoline and oil to the G7 nations, it was solely Canada that stopped Russian oil imports by taking a choice on this route.

In Russia, the sanctions in opposition to Sberbank and Gazprombank, the biggest banks of the nation, the place power revenues are collected, had been restricted and weren’t included in SWIFT sanctions.