OREANDA-NEWS In six months, the export of pipeline gas from Russia to Europe has increased by almost a third. The sharp increase in supplies, with reference to data from Gazprom and the European network of gas transmission system operators (ENTSOG), is reported by the Vedomosti newspaper.

In six months, exports increased to 15.4 billion cubic meters (plus 27 percent in annual terms). So, in June, pumping increased by another 23 percent, to 2.5 billion cubic meters.

At the same time, transit through the territory of Ukraine increased by 11 percent in six months, to 7.7 billion cubic meters (while the figures remain below the contractual level of 40 billion cubic meters per year). Similarly, pumping through the Turkish Stream gas pipeline to Europe has increased by 1.5 times, to 7.7 billion cubic meters. In May, exports in this direction reached a record volume of 55.7 million cubic meters in history.

Since May 2022, Ukraine has not received gas through the Sokhranovka station in the Rostov region, from where gas enters the territory of the Luhansk People's Republic. Currently, transit is conducted only through GIS "Sudzha" in the Kursk region, from where fuel goes to the Sumy region controlled by Ukraine. Gazprom has to pay about $1.25 billion annually for pumping gas through the territory of Ukraine. The five-year supply contract expires at the end of 2024, and Kiev refuses to renew it.

Experts explain the increase in supplies to the region by the price situation on the market and a decrease in imports of liquefied natural gas (LNG). According to Sergey Kaufman, an analyst at Finam, Europe is steadily reducing LNG imports, and gas prices in the range of 350-400 dollars per thousand cubic meters make the purchase of Russian fuel more profitable. In the second half of this year, the dynamics of export growth will be weaker, against the background of the expected increase in supply on the LNG market and high occupancy of underground gas storage facilities, prices in the region may fall to $ 250 for the same volume.

In May 2024, Russia overtook the United States in terms of fuel supplies to Europe. Gas and liquefied natural gas (LNG) supplies from Russia accounted for 15 percent of the total volume of supplies to the countries of the European Union, Great Britain, Switzerland, Serbia, Bosnia and Herzegovina, as well as Northern Macedonia. The article notes that the share of LNG supplies from the United States to the same countries was 14 percent, which is the lowest since August 2022.