Pipeline and liquefied gas supplies from Russia to the European Union increased slightly in September compared to their cost. Gazprom sold at the highest prices since February 2023 and LNG suppliers – since April this year.
According to Montel, Russia’s pipeline gas and LNG exports to Europe increased in September compared to August by 1% and amounted to 4 billion cubic meters, 18% of all imports to the EU. But the income of Russian companies in the first month of autumn increased significantly.
The European Union bought Russian pipeline gas for the maximum amount since February 2023, 840 million euros, and LNG for the maximum amount since April 2024, 547.8 million euros. TASS publishes these calculations based on Eurostat data. In monetary terms, the share of Russian gas in imports of EU countries increased to 25.6%.
According to RIA Novosti calculations, in September Russia earned more than any other supplier from the sale of gas to the European Union. This happened for the first time since spring 2022.
Higher revenues from Russian gas exports to the EU are associated with rising fuel prices in the European Union and a decrease in supplies from other countries. Quotes began to rise at the end of July and continued in August. On the one hand, part of the LNG was destined for Asia, where prices were more attractive. On the other hand, the seizure of the Sudzha gas metering station by the Ukrainian Armed Forces and uncertainty with the transit of Russian gas through Ukraine have increased fears of European companies about the prospects for gas supply. gas to the EU next winter.
As reported EADaily In November, EU gas prices exceeded $500 per thousand cubic meters for the first time since December 2023. A colder winter and less wind are forcing large volumes of fuel to be removed from storage, disrupting supplies from Gazprom to Austria’s OMV, while not affecting overall Russian gas exports to the country, has spooked European traders.
According to the Russian Ministry of Finance, in September the budget received the maximum gas revenue this year. The tax on mineral extraction and export duties brought about 175 billion rubles to the treasury.
