Gazprom Exports Less to Europe in Feb
Mar 2, 2021 12:55:pm
Summary
by: Thierry Bros
Russian gas exporter Gazprom saw a big drop in its February exports to the European Union, with flows down 14.3% on January. This can be explained by extended lock-down restrictions in Europe and additional LNG.
Ukrainian transit was the one that took the hit again (-52.7% vs last month). The transit deal signed December 29, 2019 between Gazprom and Naftogaz provides for 40bn m³ transit volumes for 2021. As the 40bn m³ should be on a uniform flow of 110mn m³/d, any lower historical flow cannot be mitigated by higher contracted flows. For higher flows, Gazprom need.