Russia’s Pipeline Gas Exports to Europe Plunge by 56% in 2023 

Gazprom’s pipeline gas exports to Europe plunged by 55.6% in 2023, after Russia cut off materials to numerous EU nations and Nord Stream was exploded in the Baltic Sea at the end of 2022.

Russia’s day-to-day gas volumes by means of pipeline to Europe plunged to 77.6 million cubic meters in 2023 from 174.8 million cubic meters in 2022, according to quotes by Reuters based upon information from European gas transmission group Entsog and Gazprom’s day-to-day reports on transit by means of Ukraine.

Gazprom has actually stopped releasing information on its gas exports to Europe by means of pipeline after the Russian intrusion of Ukraine.

Gazprom has actually reported an enormous drop in its net revenue for the very first half of 2023 as shipments to Europe plunged compared to the very same duration in 2022 when Russia was still providing pipeline gas to its European clients.

The significant drop in Gazprom’s gas shipment to essential clients was because of the stop of Russian pipeline gas exports to almost all European nations. Weeks after the Russian intrusion of Ukraine in early 2022, Russia cut off supply to Poland, Bulgaria, and Finland.

Then Gazprom began to lower supply by means of the Nord Stream pipeline to Germany in June 2022, declaring a failure to service gas turbine upkeep outside Russia due to the Western sanctions versus Moscow for the intrusion of Ukraine. This was weeks before the sabotage of the Nord Stream pipelines at the end of September 2022, which definitively closed all pipeline gas paths of Russia’s gas to Germany.

Before the war in Ukraine, Russia provided around one-third of all the gas to Europe.

China has actually ended up being a first-priority location for Gazprom after the separation with Europe.

In 2015, Gazprom’s president Alexey Miller stated that Russia might quickly provide China with volumes of gas similar with the volumes Moscow sent out to Western Europe before the intrusion of Ukraine.

Experts question that Russia might enhance volumes to China to such levels for a minimum of another 7 years.

By Charles Kennedy for Oilprice.com

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