Europe could face natural gas crisis this summer OilPrice.com

One week after we first saw the dramatic rise in natural gas prices in Europe, those same prices have slowly reached new heights, prompting a sharp rise in Russian supply, leading to a crisis on the continent.

Russian gas flows through Belarus and Poland via the Yamal-Europe pipeline through Mallon, Germany …

… They have continued to decline since the beginning of the month, leaving Europe time to fill up before winter. As the table below shows, The amount of gas entering Germany at the Malnov Compressor Station has halved. Ruma is flowing through Yamal-Europe and who does he remember, in what could be a Kremlin shootout with a European bow? Literally It keeps the light on during the winter.

And although Gazprom has already continued to meet its obligations through the Yamal-Europe gas pipeline and is using all available options to meet its obligations, the facts are clear.

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So what is happening? Well, according to Reuters sources, a week ago, Gazprom caught fire at a processing plant in Uruguay, which barred the export of gas through the Yamal-Europe pipeline. It also prompted Russia to suspend exports of natural gas this month.

As a Reuters According to the report, the August 5 fire at the Gas Container Processing Plant in the Yamal-Nenets region shut down trucks to the Surgut gas container stabilization plant and reduced gas exports through the Yamal-Europe pipeline.

Indeed, all of this continues to push Europe’s natural gas forward, giving a taste of how expensive it will be for the continent next winter, which could be a reason for a sharp decline in European natural gas supplies. Russia has been “forced” to restrict natural gas exports.

Gazprom said earlier this week that it had reopened its Urengoy facility and was continuing to supply lighter oil to the Surgit plant, in smaller volumes. Gazprom typically supplies gas containers to the domestic market, but plans to export more than 100,000 tons this month, which is being repaired by Surgut Factory.

“There will be no air conditioning exports in August,” a company source told Reuters. Compulsory force Exporting container in August.

Meanwhile, as shown in the chart above, gas has been halved and reduced by about 250 GWh / d per day after the accident at the Malnov Compressor Station, on the Yamal-Europe pipeline near the German-Polish border. As of August 11, 205 GWh / d, Bloomberg data shows.

And with supplies on a quarterly basis, Dutch TTF’s month-on-month wholesale price, European standards, rose to. 45.78 per megawatt on Wednesday, with traders partially driven by supply and fears of a Malnov flow.

“Gazprom has now been transformed into a storage facility in northwestern Europe. What is happening is a major concern for the market ” Marina Tisigankova, a gas analyst at Refinitive, said.

In a statement issued on Wednesday, the company’s export arm, Gazprom Export, said it has continued to impose strong obligations on gas supplies, using “alternatives and lines available for gas supplies.” Gazprom to stop fulfilling gas supply obligations – for whatever reason – for Nati gas prices in Europe …

At Zerohedge.com

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