(Bloomberg) Gazprom’s exports of gas in the main markets fell to the lowest since 2015 in January 2022, with European legislators calling for answers on the short fall.
Gazprom exported 5.4 billion cubic meters to key markets in the first 15 days of the year or an average flow of 360 million cubic meters, which is about 18% below December’s average.
The decline in Gazprom’s exports happened even as its average production rose to the highest since 2014 of 1.54 bcm/day.
EU antitrust chief Margrethe Vestager is now questioning the Russian gas giant saying she is “eagerly waiting” for the company to respond to the low supply. Fatih Birol, head of the International Energy Agency, has blamed Russia for the EU’s energy crunch.
Russian Deputy Prime Minister Alexander Novak says Russia and Gazprom cannot be blamed for the energy crunch, saying the country has delivered the significant amount of gas to its clients in countries such as Germany and Turkey that has exceeded contracted volumes.
The gas giant responded to claims of withholding supplies, saying it has delivered gas in line with its contractual obligations from its clients.
Gazprom’s daily exports across the EU borders hit an average of 250.5 million cubic meters in the first half of the month, which slightly exceeded half the volumes in the prior year. Local deliveries and withdrawals from underground storage facilities hit a 10-year high.
NG1! is up +0.54%.
