• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 12 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 5 hours Visualizing How Much Oil Is In An Electric Vehicle (Hint: a heckuva lot)
  • 4 hours Theresa May to Step Down
  • 6 hours Look at the LONGER TERM bigger picture of international oil & gas. Ignore temporary hiccups.
  • 16 hours Total nonsense in climate debate
  • 16 hours IRAN makes threats, rattles sabre . . . . U.S. makes threats, rattles sabre . . . . IRAQ steps up and plays the mediator. THIS ALLOWS BOTH SIDES TO "SAVE FACE". Then serious negotiations start.
  • 15 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 19 hours Will Canada drop Liberals, vote in Conservatives?
  • 19 hours Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
  • 19 hours Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 16 hours Apple Boycott in China
  • 12 hours Australian Voters Reject 'Climate Change' Politicians
  • 2 hours Why is Strait of Hormuz the World's Most Important Oil Artery
Tainted Russian Oil Crisis May Drag On For Months

Tainted Russian Oil Crisis May Drag On For Months

Russia could have seriously underestimated…

Germany Ups Gazprom Imports by 19 percent in Q1

Gazprom gas exports

While dramatic talk of an end to Gazprom’s ‘monopoly’ in Europe steals headlines in the wake of the first LNG shipments to the continent, Germany reveals that it’s increased its gas imports from the Russian giant by 19 percent in the first four months of this year.

"It was noted the last year broke the record of supplies from Russia, which grew by 6.6 bln cubic meters (+17.1 percent). The upward trend continues to become stronger this year - 2 bln more cubic meters as compared to the last year (+19 percent) were already exported in the first four months of 2016," Gazprom said, referring to a meeting Gazprom CEO Alexei Miller and German Vice-Chancellor Sigmar Gabriel.

Related: 90% Off Sale On Offshore Drilling Rigs?

The two also discussed the Nord Stream 2 pipeline project as a way to meet the “growing demand for Russia’s energy resources in Europe,” Tass news agency reported.

"Creation of a new gas transportation main line will not merely improve reliability of supplies but will also contribute to development of the European gas market," Gazprom noted.

In 2015, Gazprom supplied 45.3 billion cubic meters of natural gas to Germany.

Gazprom supplies about one-third of the gas that Europe consumes. Norway supplies another quarter; so together, the two countries satisfy less than 60 percent of European gas needs. Gazprom is the single biggest player on the European market.

Related: Libya’s Oil Exports Could To Go To 0 bpd Within One Month

German Uniper, a subsidiary of E.ON, recently renegotiated a long-term gas import contract with Gazprom, reportedly “derisking” the contract going forward, according to Platts.

The renegotiation came after E.ON started arbitration proceedings in 2014 against Gazprom over pricing.

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Palin Smith on May 13 2016 said:
    Reagan warned Europe about becoming dependent on Russian gas. Windmills will not keep Germans warm when the climate continues to cool down.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News