Gazprom

Russia’s Gazprom said it is continuing to pipe natural gas to Europe via Ukraine.

The volume of gas flow at the Sunza metering station was recorded today at 42.3 million cubic meters.

Source: APPE-MPA

Ukraine has agreed to transit natural gas from Azerbaijan to Europe as an interim measure following the expiration of its transit agreement with Russia, although it expects that the quantities of gas from Azerbaijan will include quantities of Russian gas, the news website Ukrainska Pravda wrote today.

Russia has alternative routes for supplies to European countries, Russian presidential spokesman Dmitry Peskov said on Aug. 28, commenting on the Ukrainian authorities' refusal to extend the agreement on Russian gas transit.

There are alternative routes, there are plans to create a hub in Türkiye, this work is in progress" Peskov said, TASS reported.

Ukraine's attack on Russian soil, near an important transshipping point for Russian gas to Europe, has taken the uncertainty over the gas market up another notch, sending futures contracts up to new year-highs.

On Wednesday, September contracts shot up to 39.49 euros per megawatt-hour. By Thursday, the price had dropped slightly, to 38.62 euros per MWh.

Gazprom reported a record loss of 480.6 billion rubles (about 5.6 billion US dollars) for the first half of the year. This follows last year's annual loss of 629 billion rubles (approximately 6.9 billion dollars), the first in over two decades. In 2022, Gazprom had recorded a profit of 1.23 trillion rubles.

Bulgargaz, Bulgaria's state gas supplier, has initiated legal proceedings against Gazprom, the Russian energy giant, seeking 400 million euros in compensation for damages caused by the unilateral suspension of natural gas supplies over two years ago, by the end of April 2022, reports BNT.

Russian liquefied natural gas (LNG) exports increased by 2.7% in the first half of the year, reaching 16.79 million metric tons, according to Kommersant, as quoted by Reuters. However, future export volumes are expected to decline due to potential maintenance at the Sakhalin 2 facility.

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic received Russian Ambassador to Belgrade Alexander Botsan-Kharchenko on Wednesday to discuss cooperation in energy projects and also thanked the Russian Federation for supporting Serbia regarding a UN General Assembly resolution on Srebrenica.

During a briefing at the Ministry of Energy, it was revealed that Bulgargaz intends to pursue legal action against Gazprom Export, seeking damages amounting to BGN 400 million. This decision stems from the termination of gas supplies to Bulgaria by the Russian company in 2022.

Moldova's domestic gas supplier Energocom said it will supply its consumers with test volumes of US-origin liquefied natural gas (LNG) for the first time on Monday and Tuesday. Moldova relied almost exclusively on Russian gas under a deal with state-controlled Gazprom but stepped up diversification efforts following Moscow's full-scale invasion of neighbouring Ukraine two years ago.