• 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
  • 14 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 days Does Toyota Know Something That We Don’t?
  • 2 days America should go after China but it should be done in a wise way.
  • 8 days World could get rid of Putin and Russia but nobody is bold enough
  • 10 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 11 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 10 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 15 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 11 days Putin and Xi Bet on the Global South
  • 11 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"

Gazprom’s Natural Gas Exports Plummet By 43%

Russian giant Gazprom saw its natural gas exports to customers outside the Commonwealth of Independent States (CIS) plunge by 43% between January and October as Russia drastically cut its pipeline gas deliveries to Europe.

Gazprom’s gas supply to countries other than CIS members – Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and Uzbekistan – averaged 91.2 bcm to its other customers in Europe and Asia, the Russian state firm said on its Telegram channel on Tuesday quoted by Montel.

Gazprom’s natural gas production dropped by almost 19% in the ten months to October compared to the same period of last year. 

Of course, the major drop in Gazprom’s gas deliveries to key customers was due to the halt of Russian gas exports to nearly all European countries. Weeks after the invasion of Ukraine, Russia cut off supply to Poland, Bulgaria, and Finland. Several weeks later, Gazprom started to reduce supply via the Nord Stream pipeline to Germany in June, claiming an inability to service gas turbine maintenance outside Russia due to the Western sanctions against Moscow for the invasion of Ukraine. Gazprom said in early September that Nord Stream would remain shut until “operational defects in the equipment are eliminated,” upping the ante in its gas war against Europe. 

At the end of September, gas leaks were detected from the now-shut Nord Stream 1, as well as its twin pipeline Nord Stream 2, which was never put into operation. The lines were found to have been sabotaged, and earlier this week, Russia accused the British Navy of blowing up the pipelines.

Gazprom said today that demand for its gas had dropped, especially in Europe, which accounted for most of the decline in global gas consumption between January and October.

Soaring gas prices and Europe’s efforts to replace Russian gas deliveries have forced many industries to curtail or halt operations as energy costs have surged.

By Charles Kennedy for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | 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