Publikacja użytkownika ORLEN S.A.

Share of Russian gas in Austrian imports at 98% as other purchases decline — expert Earlier, the Austrian Ministry of Energy reported that the share of Russian natural gas in Austria's energy balance reached 98% in December 2023 The share of Russian gas in Austrian imports in December last year amounted to 98% due to a decrease in the volume of purchases from other sources, former top manager of the Austrian oil and gas company OMV Otto Musilek told TASS. "We must fulfill the contract with Russia and, since the storage facilities are full, there is no need to import more gas from other, more expensive sources," the expert explained. Earlier, the Austrian Ministry of Energy reported that the share of Russian natural gas in Austria's energy balance reached 98% in December 2023, which is a record high volume since the start of the special military operation in Ukraine. In February 2022 it was 79%. In June 2018, an agreement was signed to extend the existing contract between Gazprom Export LLC and OMV Gas Marketing & Trading GmbH for the supply of Russian natural gas to Austria until 2040. Previously, the contract was valid until 2028. The contract is based on the take-or-pay principle, meaning OMV is obliged to transfer money even if it does not actually take the gas. #business #finance #financialservices

🇪🇺 Negotiations for New Gas Supplies to the EU Germany and the European Commission are actively negotiating with EU member states to finalize a new contract for Russian gas supplies or to increase imports from other countries. The European Commission has announced its collaboration with EU countries affected by transit issues, whose gas contracts are set to expire at the end of 2024. This primarily involves Austria, Slovakia, the Czech Republic, and Italy. Ukraine and Russia have repeatedly stated that the contract for transporting Russian gas through the Ukrainian gas transportation system will not be extended. The contracted volume for 2024 is 40 billion cubic meters of gas per year. However, in 2023, only 14.6 billion cubic meters of Russian pipeline gas were delivered to Europe through Ukraine. According to Handelsblatt, one potential option for extending supplies involves a new contract between Gazprom Export and the Austrian OMV Gas Marketing and Trading GmbH. Under this arrangement, the Austrian company would purchase gas at the Russian-Ukrainian border, transport it to the EU, and pay the Operator of the Ukrainian Gas Transmission System (OGTSU) for transit. This plan, however, requires Ukraine's consent. The second option is to increase gas supplies from Azerbaijan via the Trans-Anatolian gas pipeline (TANAP). This would necessitate European countries negotiating the supply of Azerbaijani gas through Ukraine, as the pipeline is currently fully loaded with other contractual volumes. #EU #gas

Russian natural gas is now taking a new route to reach European countries - via ship instead of pipeline. According to data analytics firm Kpler, last year Russia sent more than 15.6 million metric tons of LNG to EU ports. This marks a slight increase from 2022 and a notable 37.7% increase compared to 2021. Check out the article to read more about this new West-East route that has Europe hooked on Russian gas. #LNG #EU #RussianGas

#Austria's OMV Gas Marketing & Trading warned on 21 May #Russian gas supplies may be interrupted if a foreign court ruling is enforced. According to the statement, OGMT may have to pay for the delivered Russian gas to a European energy company rather than supplier Gazprom Export. The payment for Russian gas delivered in May is due around the 20th June. It is unclear what the 'foreign court' decision refers to but market sources say arbitration proceedings initiated by #European energy companies against Russia's Gazprom Export for failing to deliver supplies in 2022 are close to completion. If international tribunals award in their favour, they may seek to enforce the awards. It would be interesting to see whether other buyers of Russian gas in Europe may be affected. Meanwhile, the Austrian regulator E-Control said on 22/05 Austria was well supplied, with stocks now hovering around 77% and options available to import gas from Germany and Italy. Another option may be to import gas from eastern Europe via Romania. Traders reported brisk trading activity on the Romanian gas exchange BRM in the early session of 22 May.

Russia’s EU gas market share: A battle on four fronts – Part 1 Russia’s ability to retain its market share in Europe in the longer-term hinges on a sequence of decisions that will have to be made in 2024. The country lost its role as Europe’s top gas supplier after it cut nearly 90% of the pipeline volumes it was supposed to export as part of contractual obligations. #ICIS #Russia #gas #LNG #Gazprom #sanctions #TurkStream2 https://bit.ly/40ENgTB

After the Balticconnector pipeline breach, it's a good time to look how much Finnish and regional gas markets have evolved in recent years. For decades, Finland's natural gas market was dependent on Russian pipeline supply. At the beginning of 2020, the Balticconnector was commissioned, and a year ago so was the floating LNG terminal (FSRU) in Inkoo. The Finnish TSO, Gasgrid Finland, just made public that the slots for winter LNG cargos have been successfully filled. This is an excellent start for securing winter gas deliveries. #gas #energy #securityofsupply

"But a halting of the pipeline flows may prove harder, as several landlocked member states, notably Hungary and Austria, still rely heavily on those molecules. 'How do you get gas into those countries is a much more difficult question to answer right now,' said Peter Thompson. But even so, once infrastructures such as the planned LNG import terminals across Europe are in place, 'that will be an easier question to answer'." #energysecurity #securityofsupply #natgas #lng #fsru #riskmanagement #strategy #oilandgas #shale #energystrong

Moscow has expressed its intention for Gazprom’s Sakhalin-2 project to cater to the domestic LNG needs of the Kamchatka region in Russia’s Far East. This move is anticipated to divert approximately 600,000 tons/year of Sakhalin-produced LNG from the Asia-Pacific spot market. 🔹An LNG supply agreement is expected to be inked in Q1 2024. 🔹State-run Gazprom will purchase LNG from Sakhalin-2 and distribute it to Kamchatka's domestic consumers. 🔹The Russian government is set to determine financing sources by Q4 this year to bridge the gap between the feasible LNG supply price and the regulated tariffs in Kamchatka. 🔹Sakhalin-2, primarily an exporter to Asian markets, might need to redirect a significant portion of its LNG from non-contractual volumes. 🔹Novatek is gearing up to launch a gas transshipment terminal in Kamchatka later this year. Additionally, Novatek has been greenlit to acquire a significant stake in Sakhalin-2, previously held by Shell. This strategic shift underscores the importance of domestic energy supply and the evolving dynamics of the global LNG market. It will be fascinating to see how these developments impact the broader energy landscape in the region and beyond. #LNG #EnergyNews #Sakhalin2 #Gazprom #Novatek #EnergyTransition

As Financial Times explains weaning EU off Russian natural gas has proven to not be straight forward with Russia recently growing their exports to Europe and now surpassing US LNG in terms of volumes. In May Russia’s market share in EU was 15%, slightly ahead of US at 14% but behind Norway at 30%. #lng #gas #naturalgas #energy #oil #oilgas #shipping #maritime https://on.ft.com/3RvhEw2

Moscow wants Gazprom’s Sakhalin-2 project to supply LNG to the Kamchatka region in Russia’s Far East, according to a roadmap document published on Monday. This should remove some 600,000 tons per year of Sakhalin-produced LNG from the spot market in Asia-Pacific. State-run Gazprom will buy LNG from the project and re-sell the gas to domestic consumers in Kamchatka, is the understanding. #gazprom #russia #sakhalin #lng #lngindustry #domesticgas