Gas production “Gazprom” has decreased significantly

Gas production “Gazprom” in the unprecedented warmth of March 2020 followed the trend of the warm January and February after a 6.5% decline in the first month of the year, in the second she dropped to 5.3% and by 18% in March.

Добыча газа «Газпромом» значительно снизилась

As evidenced by the calculations of “Interfax” on the basis of operative data CDU TEK, in March 2020, the group has produced 38.3 billion cubic meters after 46,68 billion cubic meters a year earlier.

It is also lower than March 2018 (46,52 billion cubic meters), close to the result for March 2017 (38,46 billion cubic meters) and higher results for the same month of 2016 (34,85 billion cubic meters).

For the first quarter of 2020, a production of “Gazprom” decreased compared to January-March 2019 already at 13.7 billion cubic meters.

In 2019, “Gazprom” managed to get 500,1 billion cubic meters of gas, breaking patriliny mark after a seven year break. However, the results of the first quarter of 2020, the heritage of the warm winter in the period of recovery of stocks in storage, “quarantine” the economies of Europe and Russia because of the coronavirus again cast production of “Gazprom” in the area of four hundred billion cubic meters.

The export of “Gazprom” in the CIS countries in March 2020 could drop to 13-13. 5 billion cubic meters as of 16.08 billion cubic meters in March 2019, according to calculations based on data from European gas companies and Gazprom.

Via Ukraine, “Gazprom” has circulated in March 4,634 billion cubic meters after to 3.93 billion cubic metres in February. Average daily transit increased to 149.5 million cubic meters. m from 135.5 million cubic meters in January. The contract for the transit for 2020 envisages pumping 65 billion cubic meters, which in terms of the day is 178 million cubic meters.

The European market continued to press the gas reserves in underground storage facilities, created in the event the Russian-Ukrainian transit drama. The owners are in no hurry to raise them up, as long as the withdrawal season. It has already collapsed, spot prices for gas in Europe to $70 per thousand cubic meters.

In January-March 2020 the selection of gas from underground gas storage facilities exceeded the withdrawal last year by 28%, or 8 billion cubic meters, according to data from Gas Infrastructure Europe. However, to blow stocks to normal levels until the end of the season, of course, will fail and unspent “buffer” will reduce the demand during the upgrade of reserves in underground storage facilities.

LNG supply to the European market in January, February and March 2020 steadily growing in relation to the levels of last year, also follows from the data of GIE. In 2020 the European terminals in a month comes to about 10 billion cubic meters of gas, which is already quite comparable with the volume of Russian gas supplies. It may seem that in March the growth of LNG deliveries slowed to less than 10% with over 30% in January and February. However, this is due to a high base of March 2019.