By Eleftherias Kourtalis With attention focused on whether Russian gas supplies via the Nord Stream 1 (NS1) pipeline will resume as maintenance is completed on Thursday, Goldman Sachs looks at the biggest concerns clients have expressed about this issue for the last two weeks. According to GS’s assessment, the most likely scenario is for NS1 […]
Tag: Gazprom
Putin: Nord Stream 1 will operate again, but with reduced gas flows – ‘Reason due to equipment sanctions’
Russian President Vladimir Putin warned today that natural gas flows through the Nord Stream 1 pipeline, the largest pipeline carrying Russian natural gas to Europe, will continue but may be further reduced due to slow progress in equipment maintenance. The head of the Russian state made it clear that if the dispute with the West […]
Gazprom: Everything ‘points’ to a natural gas cut
Germany looks to July 21 with anxiety. It is the deadline for the completion of Gazprom’s annual maintenance works on the pipeline, and most likely the day the tap will have to be turned on for gas to start flowing to Germany. But this possibility is constantly receding. A representative of the Ministry of Economy […]
Germany: Uniper rejected Gazprom’s excuses for reducing gas flow
Germany’s largest natural gas importer, Uniper, last night officially rejected Gazprom’s claim of “force majeure” that prevented it from delivering the agreed amount of natural gas to its customer. As a representative of Uniper told the German Agency dpa, the company received a letter from Gazprom Export, a subsidiary of the Russian energy giant, in […]
Over 4% rally in oil after Gazprom’s ‘force majeure’
Oil prices rallied as heightened concerns over gas flows to Europe after Gazprom invoked “force majeure” and a weaker dollar offset fears of crude demand due to a looming recession and lockdown in China. In particular, the September delivery contract of Brent performs a jump 4.77% and trades in 106 dollars the barrel having added […]
Gazprom moves east as relations with Europe sour – Record supply to China
Gazprom delivered a record daily amount of natural gas to China on Sunday, while supplies to European customers remained at multi-year lows, according to Bloomberg. The increase in exports to Asia is not a reaction to Moscow’s worsening relations with the West, but a sign of a long-term readjustment of energy flows that could accelerate […]
Gazprom: Invokes ‘force majeure’ for non-delivery of natural gas to Europe
Russia’s Gazprom has cited “force majeure” over gas supplies in Europe to at least one of its major customers since June 14, according to a letter seen by Reuters. According to the letter, Gazprom cannot fulfill its logistics obligations due to “extraordinary” circumstances beyond its control. A trade source said the letter concerns supplies via […]
Italy is leading the way in weaning off Russian natural gas
Almost five months after Russia’s invasion of Ukraine triggered a global energy crisis, Italy is moving to reduce its dependence on Russian energy, Bloomberg reports. Italy has reduced its dependence on Russian gas imports to 25%, from around 40% at the beginning of the year. By contrast, Germany – Europe’s largest economy – still imports […]
Russia: The Ministry of the Interior strongly supports the idea of ​​selling LNG in rubles as well
Russian Finance Minister Anton Siluanov, in an interview published today, strongly supports Gazprom’s proposal to extend the practice of selling liquefied natural gas (LNG) in the national currency, the ruble, in addition to natural gas transported through pipelines . Asked about Gazprom’s proposal, Mr Siluanov told the Ventomasti newspaper that “we support it in every […]
The gas crisis in Europe is worse than it seems
By Javier Blas European gas prices are still well below the all-time high reached in March. However, they point to a more prolonged disruption than markets expected in the immediate aftermath of Russia’s invasion of Ukraine. While the gas market had then discounted a short-term crisis that would last a few months, it is now […]
