Gazprom increases gas exports to Europe

In June 2024, Russian gas monopoly Gazprom increased its average daily natural gas supplies to Europe by almost 23% compared to last year. Sales increased after the lows of 2023.

This is reported by RBC-Ukraine with reference to Reuters.

Calculations based on data from the European gas transmission group Entsog and Gazprom's daily reports on gas transit through Ukraine showed that average daily pipeline exports increased to 81.8 million cubic meters compared to 66.8 million cubic meters in June 2023.

Gazprom's total natural gas exports to Europe this year amounted to about 15.5 billion cubic meters.

Europe was once Russia's main export market, but now it buys much less Russian gas after Moscow's invasion of Ukraine.

Instead, Gazprom has increased gas sales to China, pushing its pipeline gas imports from Russia to 22.7 bcm last year, almost 1.5 times the 15.4 bcm delivered in 2022.

According to Gazprom and Reuters calculations, in 2022, Russia supplied a total of about 63.8 billion cubic meters of gas to Europe via various routes. Last year, the volume decreased by another 55.6%, to 28.3 billion cubic meters.

At its peak in 2018–2019, the annual gas flow to the region reached 175 to 180 billion cubic meters.

Author - Serhii Kolomiets, 02/07/2024