Spot gas prices at the TTF hub in the Netherlands set a record and reached $ 484 per 1,000 cubic meters. m or 39 euros per 1 MWh, Kommersant reported, citing EEX data. Also, the record was set by the TTF futures price for August: during the day it increased by 5.3%, to $ 491 per 1,000 cubic meters. m. Prices for long-distance futures are also high: December ones are traded for 39.2 euros, January – for 38.975 euros.
The publication noted that the record rise in prices provoked Gazprom’s refusal to book additional transit capacities through Ukraine for August. Liquefied natural gas supplies to Europe are declining: since the beginning of July, they have decreased by 12% compared to June, in annual terms, the decline was more than 22%. The gas reserves in the storage facilities of the receiving terminals are also decreasing.
Free shipments of gas are sent to Asia: demand there is growing due to the heat and the increase in electricity consumption for air conditioning. China was the growth leader in Asia – in July it increased gas imports by a quarter in annual terms. Demand is also recovering in India.
On July 27, during the auction, it was proposed to book additional capacities for gas transit through Ukraine in the amount of 63.7 million cubic meters. meters of gas per day, but Gazprom did not book them.
On July 19, the main auction for booking solid transit capacities of the gas transmission system of Ukraine was held: then Gazprom bought the entire volume offered for gas transit through Ukraine – 15 million cubic meters. per day.
In December 2019, Gazprom and Naftogaz signed a five-year contract for the transit of Russian gas through Ukraine to Europe starting from January 1, 2020. Under the terms of this contract, Gazprom must pump at least 225 billion cubic meters of gas through Ukraine. m of gas in 2020–2024 On July 22, Russian Deputy Foreign Minister Alexander Grushko announced that the transit of Russian gas to Europe through Ukraine after 2024 will continue if there is a corresponding demand.
This statement was made after the German Foreign Ministry published a joint statement with the United States, which partly discusses the conditions for the operation of the Nord Stream 2 gas pipeline. In particular, it says about the need to extend the transit contract between Gazprom and the Ukrainian Naftogaz after 2024 for 10 years. For this purpose, “Germany promises to use all the necessary resources.” In addition, it follows from the document that the supply of energy resources cannot be used for political purposes.
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