Gazprom: Ukraine is restricting the transit of Russian gas to the EU

If Kyiv agrees to restore a second entry point, which has been closed since May, the bloc might receive additional natural gas.

According to energy giant Gazprom, just one entry point remains for Russia's natural gas supplies heading for the EU, and Kyiv won't reopen a second transit terminal.

As of August 1, Gazprom was sending 41.7 million cubic meters of Russian gas for transit through Ukraine, as confirmed by the Ukrainian side through the Sudzha gas metering station. A spokesperson for Gazprom informed reporters that the application to restart the Sohranovka gas metering system had been turned down.

In early May, Ukraine halted transit at the Sokhranovka station, which handles a third of the Russian gas passing through the nation to the EU, citing "intervention by the occupying forces."

At the time, Gazprom asserted that it did not see any justification for stopping the flow of gas. Kyiv requested that all gas transit be moved to the Sudzha pumping station in the Kursk Region, but Gazprom rejected the request because it was technically impossible.

In the meantime, due to turbine issues, Russia has also been obliged to decrease its gas delivery to Europe through the Nord Stream 1 pipeline. The German business Siemens, which manufactured and maintained the machinery, has been accused of breaching the contract by Gazprom and is to blame for the problem.

Gas prices in Europe have increased as a result of the decline in Russian supplies. On the Dutch TTF exchange, futures contracts for shipments in August and September traded in the region of $1530 to 2385 per thousand cubic meters in July. In contrast, the spot price was less than $500 at the same time last year.

#businessnews #businessdaily #businesstimes #businessnewstoday #businessworld

Read more Business, Entertainment, Social, Politics , Real Estate , Finance , Sports

0 views0 comments