Gas Production & Supplies Results for First 1.5 Months

Source: www.gulfoilandgas.com 2/16/2022, Location: Asia

According to preliminary data, Gazprom produced 70.1 billion cubic meters of gas between January 1 and February 15, 2022. This is the best result in the last three years. The level of domestic supplies from the gas transmission system is commensurate with that of the record-breaking year of 2021.

The Company's gas exports to the countries beyond the FSU amounted to 17.9 billion cubic meters, which is 35.5 per cent (or 9.8 billion cubic meters) lower than the figure for the same period of 2021. At the same time, Gazprom increased its supplies to such countries as Turkey (by 2.7 per cent), Bulgaria (by 24.2 per cent), and Bosnia and Herzegovina (by 13.9 per cent). The Company continues to deliver gas as requested by consumers in full compliance with contractual obligations.

Gas exports to China via the Power of Siberia pipeline keep growing within the framework of the long-term bilateral contract between Gazprom and CNPC. February 14 marked a new record for daily supplies.

According to Gas Infrastructure Europe, working gas inventories in Europe's underground gas storage facilities were lagging behind last year's level by 22.3 per cent (or by 9.2 billion cubic meters) as of February 14. As much as 93.4 per cent of the gas injected during the summer period is already withdrawn, which means that less than 7 per cent is left. The total amount of working gas inventories in European UGS facilities was as low as 32 billion cubic meters on February 14, falling by 1.3 billion cubic meters below the historical minimum for this date.

It should be noted that the withdrawal of gas from Europe's UGS facilities usually continues until late March to mid-April.

The inventories in Ukraine's UGS facilities have dropped to 10.7 billion cubic meters and are now 45.7 per cent (or 8.9 billion cubic meters) below the level of last year and 4.6 billion cubic meters below the level observed at the start of the injection period in April 2021.


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