• 4 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 7 minutes Trump Will Win In 2020
  • 12 minutes Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 36 mins Millennials: A boil on the butt of the work ethic
  • 9 hours Hong Kong protesters appeal to Trump for support.
  • 8 hours A little something for all you Offshore swabbies
  • 19 hours Europe: The Cracks Are Beginning To Show
  • 16 hours Ban Fracking? What in the World Are Democrats Thinking?
  • 21 hours Iran Vows Major War Even If US Conducts "Limited Strikes"
  • 3 hours When Trying To Be Objective About Ethanol, Don't Include Big Oil Lies To Balance The Argument
  • 3 hours LA Times: Vote Trump out in 2020 to Prevent Climate Apocalypse
  • 35 mins US and China are already in a full economic war and this battle for global hegemony is a little bit frightening
  • 6 hours Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 6 hours Shale profitability
  • 6 hours Memorize date 05/15/2018 cause Huawei ban is the most important single event in world history after 9/11/2001.
  • 3 hours Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 16 hours Let's shut down dissent like The Conversation in Australia
Alt Text

US To Supply More Than Half Of Global Gas By 2035

The United States is expected…

Alt Text

U.S. And Russia Battle It Out Over This Huge Iraqi Gas Field

The geopolitically strategic gas field…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Europe Buys More Russian Gas Despite Strained Relations

The West-Russia relations have reached a new low since the Cold War amid the spy poisoning scandal in the UK, allegations of Russian meddling in elections, and fresh U.S. sanctions on Russia.

Yet European countries continue to buy increased amounts of Russian gas, and Russia’s state-held gas giant Gazprom is boosting production and exports, and is obtaining approvals in individual countries for its Nord Stream 2 gas pipeline that has divided the EU over fears of a tightening Russian grip on gas supplies.

In recent months and weeks, Gazprom has taken advantage of high demand in Europe and of decreased gas supplies to Europe from Russia’s competitors, Maxim Rubchenko writes for Russian news agency RIA Novosti.

Russia—which already supplies around one-third of Europe’s gas—boosted deliveries in the winter, one of the coldest winters in Europe in the past decade, and continues to ship higher volumes even after the winter, as gas importing countries replenish gas storage supplies that had been drained amid the cold snaps.

Alexander Medvedev, Deputy Chairman of Gazprom’s Management Committee, said at the end of April that the Russian company was currently shipping as much gas to Europe as it typically does in winter months, and expects demand this summer to be close to winter levels.

Gazprom gas deliveries to Europe reached an all-time high in March, beating a previous record from January 2017, the Russian company says. In the first quarter of this year, Gazprom’s gas supply to Europe increased by 6.6 percent compared to the same quarter last year. Gazprom’s gas deliveries to European countries continued to grow in April, even after the winter heating season ended.

Demand in Europe has stayed high after the winter ended. First, because gas storage levels were low, and second—because some of the other traditional gas-supplying countries have decreased supplies over issues or maintenance at facilities.

Norway, Russia’s closest competitor, had to cope with an unplanned outage at the Skarv gas field and Kollsnes processing plant in April. Flows to Europe were reduced after a compressor at the Skarv field in the Norwegian Sea failed. Related: The Future Of U.S. Oil Relies On A Single Play

In the south, Libyan gas flow from the Greenstream pipeline to Italy was stopped on April 2 due to maintenance to integrate gas from a new phase of development at the offshore gas field Bahr Essalam. The maintenance was initially expected to be completed in two weeks, on April 18, but the resumption of gas supplies has been postponed several times, so Italy received no gas from Greenstream for the whole month of April.

Total African pipeline exports to Europe dropped in the last week of April on a continued Libyan outage and reduced Algerian gas deliveries.

While Gazprom is boosting supplies to Europe even after the winter, it has received permits from Germany to build the Nord Stream 2 pipeline and a first permit for the project in Finland. Gazprom has also completed the deepwater pipelay for Line 1 of the TurkStream offshore gas pipeline planned to connect Russia to Turkey across the Black Sea.

Meanwhile, Gazprom’s seven-year-old dispute with the EU on antitrust issues may soon be coming to an end. According to Bloomberg sources, the EU could announce as early as in May a settlement with the Russian company under which Gazprom could agree to binding pledges to allay antitrust concerns, which could put an end to the antitrust investigation that started in 2011.

Despite high political tensions, Russia continues to boost gas supplies to Europe, and Europe continues to buy.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment
  • JWRebel on June 03 2018 said:
    One of the factors you fail to mention in waning gas supply in Europe is the Dutch decision to stop producing gas (because of earth quake damage in Groningen), which means a large producer that has in the past exported significant amounts of gas, will be going offline and have to buy gas themselves.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play