Gas prices approaching record levels, Ukraine seeks US help

According to trade data on Tuesday evening, the spot price of gas in Europe exceeded $2,200/ths. cubic meters in anticipation of the decommissioning of another gas turbine engine in Nord Stream. The price of August TTF futures on the ICE Futures exchange rose to $2244. On July 25, the transaction closed at $1,852, with prices averaging $1,720 since the beginning of the month.

midday petrol price amount of More than $2,000 per 1,000 cubic meters. The historical maximum was recorded on March 4, 2022, when the spot price reached $2,300.

On July 25, Gazprom announced a new reduction in gas supplies to the EU via Nord Stream. Since July 27 the company will reduce Nord Stream’s daily production is up to 33 million cubic meters. m gas and gas pipeline will meet only 20% of the planned capacity. The company shut down another Siemens turbine unit that was pumping fuel.

In connection with the expiration of the period between overhauls before the revision (in accordance with the instructions of Rostekhnadzor and taking into account the technical condition of the engine), Gazprom stops the operation of another Siemens gas turbine engine at Portovaya CS,” the holding said in a statement.

Kremlin spokesman Dmitry Peskov amid news of supply disruption reportedGazprom will make a statement about the Nord Stream gas pipeline. He acknowledged that there were problems with the other turbine, but expressed hope that the situation would be resolved quickly. Difficulties arise due to the sanctions imposed on Russia, otherwise all the work would have been carried out quickly.

“We will definitely ask our colleagues at Gazprom to provide a technological explanation. We will definitely do it. I repeat once again in general, yes indeed there are problems with the turbines, after the overhaul the turbine has not arrived yet, it has not been installed, it is on the way.”

panic in europe

In the background of Gazprom’s statements, Ukrainian President Volodymyr Zelensky reportedHe called the company’s actions proof that Russia is using energy as a weapon, and urged European Union leaders to impose tougher sanctions against the Kremlin.

On the morning of July 26, European Commissioner for Energy Kadri Simson statedHe said Gazprom’s plan for another gas supply cut is a sign that gas supplies from Russia are likely to be cut “at any moment”. He also claims that the gas supply problem can only be solved with “unity and solidarity”.

“The termination of deliveries is possible at any time, the new restriction of deliveries bears witness to this. There is no technical reason to do this. Therefore, we are committed to our strategy to proactively reduce our gas consumption,” said Simson, adding that underground gas storage facilities across the EU are 66% full and are still being filled, so even now EU countries are still possible. to get more gas than they consume in summer.

Also on July 26, German oil and gas company Wintershall Dea said that due to cutbacks and dwindling supplies, Gazprom has destroyed its image as a reliable energy supplier.

“The reductions and cuts in Gazprom’s supply over the past few weeks have shaken Russia’s confidence as a reliable supplier of energy sources to Europe. Trust built over decades. And I have to say this is extremely depressing,” said Mario Mehren, president of Wintershall Dea.

Citing a source close to Russian officials, the Bloomberg agency said, declarationHe said Moscow would keep gas supplies to Europe to a minimum until the EU lifts sanctions.

Kyiv appeals to Washington

On the afternoon of July 26, Prime Minister of Ukraine Denys Shmyhal declarationHe said the government intends to request a “gas loan” from the United States. He stressed that this is necessary “for the stable transition of the heating season”.

“Preparations are underway for the toughest winter in our history, and in this preparation we are looking for all possible means to be ready for any scenario,” said the head of the Ukrainian Cabinet.

This proposal of the Ukrainian authorities was previously reported by Foreign Policy. With such an agreement, the United States should supply Ukraine with six billion cubic meters of LNG. Since Kiev does not have its own terminals, gas will be brought to Europe and enter the country via a pipeline. The Ukrainian side plans to pay Washington after local gas production is increased.

negotiator in Moscow

On the afternoon of July 26, Gerhard Schroeder, the former Chancellor of Germany, I was there In Moscow for a few days. Referring to the wife of former Chancellor So Yong Kim-Schroeder, Der Spiegel claims the politician is in the capital to participate in energy negotiations.

“He is negotiating energy policy in Moscow,” Schroeder’s wife told the publication.

According to Spiegel, talks with Schroeder allegedly focused on gas supply via Nord Stream 1. The question of whom Schroeder will negotiate with remains open.

In contrast, the department of the German chancellor does not organize trips abroad of the former head of the German government. The German Embassy in Moscow was also not involved in organizing the ex-premier’s trip.

Peskov, in turn, declarationThere are no plans to meet with Russian President Vladimir Putin, which does not exclude possible negotiations between the Russian side and Schroeder.

On 19 May, the Bundestag deprived Schroeder of certain privileges granted to former heads of government – an office in parliament and employees. At the same time, Schroeder, 78, retained the right to a monthly pension and protection. German edition of Bild reportedSchroeder faces expulsion from the Social Democratic Party of Germany (SPD) by the court for his friendship with Russian President Vladimir Putin and for working for Russian companies.

why close the pipe

Problems began in June in the operation of the Portovaya compressor station, which transports gas via Nord Stream. On 14 and 15 June, it was learned that the first two and then another gas compressor unit serving Nord Stream were shut down.

Gazprom said that this was due, among other things, to delays in the work of Siemens, which was not able to return the turbine required for operation from Canada on time. Siemens explained this with sanctions: One of the turbines was being repaired in Canada and was blocked when Ottawa imposed sanctions on Russia.

Gas pumping via Nord Stream has been reduced to 67 million cubic meters. m per day Thus, since mid-June, fuel has been pumped through the gas pipeline at 40% of the planned volume.

By Tuesday evening, the spot price of gas in Europe exceeded $2,200 per thousand cubic meters on expectations of another gas turbine engine shutdown in Nord Stream. In Kiev, it has already been announced that the government intends to apply to the United States with a request for “gas loan”. Also reported was the visit of former German Chancellor Gerhard Schroeder to Moscow to discuss gas supplies.

Source: Gazeta


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