Gas from Russia continues to flow to many EU countries, including those that have formally refused Russian supplies, Gazprom President Alexei Miller said.
Miller told Russian television channel Rossiya 1 that the gas had no national color. – We know that Russian gas goes to many countries that have declared their refusal to supply these supplies – he said, without naming any of the countries.
The Gazprom president referred to the words of Russian President Vladimir Putin, who recently gave the example of the Baumgarten hub in Austria. – We currently supply gas to Baumgarten, it is a very large European hub from which gas flows further to other European and EU countries – he argued.
He explained that the supply of Russian gas to the Austrian hub is possible through transit through the territory of Ukraine, in particular through the Suja Compression Station (GIS) on the Russian-Ukrainian border.
Miller: It is not true that Russian gas is not present on the EU market
– When it comes to Southern and South-Eastern Europe, gas supplies from Russia to these regions are generally still carried out in accordance with the signed contracts. That is why Russian gas is obviously present on the European market, and not in small quantities – even in those countries that declare that they do not have Russian gas on their domestic market. No, that’s not true, Miller said.
According to the Interfax agency, the gas that Gazprom pumps to EU countries through the Suja compressor station will amount to 42 million m3 on Saturday, November 11.
Gazprom looks to China with hope
While before the Russian invasion of Ukraine, the European Union received about 40 percent of Gazprom. imported gas currently amounts to about 10 percent. The EU was not afraid of Putin’s gas blackmail, managed to survive last winter and successfully created gas reserves for the coming heating season (they reach almost 100%).
Gazprom is trying to compensate for losses in the European market by trading with China. However, according to the Russian government’s draft budget and the macroeconomic forecast cited by Bloomberg, the price of gas exported to Europe in 2022 was $984 per 1,000 m3 of gas, and to China $277. In the years 2023-2026, the price of deliveries to China will continuously decrease – from $297 to $243 per 1,000 m3.
Gazprom’s total exports this year may be the lowest since the second half of the 1970s. One of the company’s former directors told Bloomberg that “the mood in the company is pessimistic, because even if Beijing meets Moscow halfway and signs a gas deal, the financial sector will be worse than in Europe. According to him, Gazprom should not have gotten involved in politics.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
