• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 1 day China deletes leaked stats showing plunging birth rate for 2023
  • 3 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 8 days Bad news for e-cars keeps coming
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

Gazprom Continues To Ship Gas To Europe Like It’s Winter

Natural Gas Pipeline

Gazprom is 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, Alexander Medvedev, Deputy Chairman of the Management Committee at the Russian gas giant, told Bloomberg in an interview in Berlin.

The coldest winter in Europe since 2012 depleted storage facilities across the continent that now need to be refilled. Industrial gas-fired power generation increases and economic growth in Europe further boost demand for gas, even if winter is now over and the period is generally a lull in gas demand and markets.

“Minimal historical gas storage levels will mean that summer demand will match winter demand of the not so distant past, given the need to refill the stores,” Medvedev told Bloomberg. “In addition, our gas remains the most cost-competitive,” he added.

Russia supplies around one-third of Europe’s gas and its closest competitor is Norway.

After the cold winter emptied gas storage sites and after the recent rally in oil prices, prices for gas for delivery to the UK next winter have jumped by 8.2 percent since the beginning of this month on ICE Futures Europe in London.

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. According to the Russian gas giant, its gas deliveries between January 1 and April 15 rose by 6.3 percent compared to the same period of 2017, with supplies to Austria surging by 74.5 percent, to the Netherlands by 108.9 percent, and to France by 9.5 percent.

By Tsvetana Paraskova for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News