One week after consumers saw a dramatic increase in natural gas prices in Europe, similar prices have reached a new low, prompting a rapid rise in Russian supplies and fears of a shortage of reserves on the continent.
Since the beginning of the month, Russia’s gas supply to Belarus and Poland via the Yamal-Europe pipeline to Germany, Mallon, has been cut short, and Europe has little time to supply before winter.
The volume of gas entering Germany at the Malnov Compressor Station has halved, indicating that Russia is pumping small amounts of gas through the Yamal-European pipeline to the Kremlin in the Atlantic.
In addition, Gazprom has continued to meet supply obligations through the Yamal-Europe gas pipeline and is using all available means to do so, but the facts are clear.
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So, what exactly is going on? According to Reuters, Gazprom was involved in a fire at the Urengoy processing plant this month, shutting down exports via the Yamar-Europe pipeline and forcing Russia to cut off natural gas.
According to Reuters, a fire at a gas container processing plant near Yamal-Nenets on August 5 prompted the company to stop trucks at the Surgut gas container stabilization plant and cut off gas exports via the Yamal-Europe pipeline.
Drop in shipping
(Photo: Ron Jenkins / Getty Images)
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Of course, all of this could be a reason for Europe’s natural gas prices to plummet, and it could give the continent a taste of how expensive next winter could be if it were Russia. “Forced” to restrict natural gas exports.
Gazprom announced earlier this week that it had reopened the Urengoy plant and then began transporting crude oil to the Surgit plant in small quantities. Gazprom usually supplies gas containers to the local market, but this month the company plans to export more than 100,000 tons of containers during repairs at the Surgut Institute.
“There will be no condominium exports in August,” one Reuters source said in a statement.
Meanwhile, gas flow (via 250-gigawatt hours (GWh / d) per day via the Malnov compressor station on the German-Polish border has been reduced and even dropped from August 11 to 205 GWh / d, according to Bloomberg data.
Natural gas supplies
(Photo – unpainted)
With supplies in the fourth tier, Dutch TTF front-end wholesale gas prices, European standards, rose to 45.78 euros per megawatt on Wednesday, traders, partially stimulated by supply concerns and Mallnow flows.
“To keep the balance at least partially offset, Gazprom has been moved from storage facilities in northwestern Europe,” said Marina Tisigankova, a reflectionive gas analyst.
Gazprom Export, the company’s export arm, continued to fulfill its contractual obligations on gas supplies through the Yama-Europe pipeline on Wednesday, using “options and lines for gas supplies.”
Imagine what Europe’s natural gas prices would be if Gazprom chose to stop supplying gas for any reason.
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