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Despite the war, Russia sold 50% more gas,


Daily deliveries of Russian natural gas to some border crossings increased by more than 50% compared to January lows, as gas transit through Ukrainian pipelines doubled as energy companies rushed to make purchases. after the invasion.

Imports from Europe’s main gas supplier have become cheaper than buying gas on the spot market and Russia continues to pay in foreign currency for gas transit through Ukraine, said Yuriy Vitrenko, general manager of NJSC Naftogaz Ukrainy, the national oil company and gas from Ukraine.

This creates a strange situation for European decision-makers, who have imposed rounds of sanctions on Moscow in an attempt to deprive Vladimir Putin’s government of the liquidity it needs to fund the invasion. In addition, European governments have promised to reduce their dependence on Russian gas through plans to keep nuclear and coal-fired power plants in operation for longer than expected, and to increase liquefied and natural gas imports from other countries. such as the USA and Qatar.

According to Bloomberg, in the first 48 hours since the beginning of the invasion, Russian gas supplies to Europe reached the highest level since December. The Russian group Gazprom PJSC claims that deliveries have increased as a result of new orders from European customers, so that after a two-month break, deliveries were resumed through another major pipeline through Belarus and Poland to Germany.

The increase in imports from Russia reflects the lack of options facing European customers in covering short-term demand, say analysts at JPMorgan Chase & Co.

Naftogaz has called on Europe and its allies to escrow payments for Russia’s energy supplies until Putin withdraws troops from Ukraine. This would further limit Moscow’s funding at a time when Russian oil and grain-laden ships are beginning to return to the market.

Ukraine previously reported that the Gazprom group pays about $ 2 billion annually for gas transit through its territory.