Low gas prices forced Russia to suspend the struggle for the European market


Record-low gas prices forced Russia to suspend the struggle for the European market. This was reported in the monitoring of the Moscow School of Management Skolkovo.


The document notes that PJSC Gazprom has ceased to fight for a share in the European gas market.

The share of Gazprom in the supply of major external gas exporters to Europe (including Norway, Algeria, Libya and LNG) over the four months, based on the assessment of ENTSOG data, decreased from a little more than 40% in the past 2019 to about 35% in the current year

- indicated in the document.

Skolkovo believes that the reduction in pipeline gas supplies to Europe is primarily due to increased competition from liquefied natural gas. According to the results of 2020, the share of PJSC Gazprom in the European market is likely to be 33-35%. To be clarified, such volumes are not the norm for Gazprom, "accustomed to working in the" 45+ "range.

Attention was drawn that PJSC Gazprom was not even trying to somehow “disperse” its sales. For example, Gazprom Export sold a little more than 20 billion cubic meters on its electronic trading platform in May 1 days. m of gas at a price of about $ 80 per thousand cubic meters. m. At the same time, in the winter, during the heating season, more than 3 billion cubic meters were sold at ETP m of gas per month.

Gazprom has practically stopped selling on ETP on a day-ahead basis and, on the contrary, is trying to keep the price by using longer forwards, including for the coming year. It is curious that theoretically, with the continuation of the price peak in the market, sales on the electronic trading platform for the next year and other periods in the future could become a premium sales channel

- argue at Skolkovo.

The behavior of PJSC Gazprom is related to the price level. So, at the most profitable exchange TTF prices fell to $ 45 per thousand cubic meters. m. For clarity, in the Yamal-Nenets Autonomous District - the main region of gas production in Russia, the price is about $ 38 per thousand cubic meters. m

At the same time, the volume of Gazprom's deliveries in May through the three main export corridors (Nord Stream, Yamal-Europe and transit through the Ukrainian GTS) decreased by a little more than 20%. This indicates that PJSC Gazprom is now fulfilling its obligations under existing contracts and is in no hurry to sell gas at low prices.
Used photos: gazprom.com
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7 comments
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  1. aleksandrmakedo Offline
    aleksandrmakedo (Dubovitsky Victor Kuzmich) 14 June 2020 16: 42
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    Yes, what nonsense? Decrease in gas supplies at lower prices is the norm. Saving volumes, or even more illiterate action, an attempt to increase - this is an additional and sharp decrease in the same price. There are few idiots striving to step on their own short coats and try to get up.
  2. gorenina91 Offline
    gorenina91 (Irina) 14 June 2020 17: 13
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    Skolkovo believes that the reduction in pipeline gas supplies to Europe is primarily due to increased competition from liquefied natural gas.

    - Ну ...так и кто же этот "конкурент"??? - Американы или...российский НОВАТЭК???
    - Personally, I have already written more than once about the fact that this NOVATEK will be worse than Gazprom in the field of fraud ... - Gazprom is not good for it in this matter ...
    - Что характерно, сегодня НОВАТЭКу даже самому выгодно "попридушить" поприще Газпрома, чтобы обеспечить себе более обширное поле деятельности...
    - We are used to seeing only American machinations in the field of promoting American LNG to Europe ... Yes ...- all this is so ...- the Americans are doing everything possible in this direction ...
    - И всем это давно понятно...- Но за этим стереотипом мышления, что у всех выработался в результате восприятия только такого видения ...-все почему-то не углядели политику НОВАТЭЕКа... - А ведь и НОВАТЭЕКу - тоже не нужен успешный владеющий западным рынком Газпром... - Ему нужна неограниченная сфера деятельности...- скоро ему понадобится продвигать в рынок свои огромные объёмы своего СПГ (по крайней мере, он будет это усиленно имитировать...- мошенник - есть мошенник)... - такие вот волчьи и людоедские законы "любого капитализма"...
    1. race Offline
      race (Yaroslav) 14 June 2020 22: 47
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      Quote: gorenina91
      soon he will need to market his huge volumes of his LNG (at least he will vigorously imitate it ... - a scammer - there is a scammer) ... - such are the wolfish and cannibalistic laws of “any capitalism” ...

      Actually, this is called competition.
      1. gorenina91 Offline
        gorenina91 (Irina) 15 June 2020 04: 30
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        - Yes ... what are you ??? - Really ???
  3. shadow Offline
    shadow 14 June 2020 22: 14
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    Low oil prices have already been.
  4. GRF Offline
    GRF 15 June 2020 08: 07
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    Sellers selling at a loss will only be left with the vain “Yes, we owned 100% of the market share” - and not for long, the grateful customers will rewrite the story. And how descendants will be grateful ...
  5. The comment was deleted.
  6. Vladimir Pimanov (Vladimir) 15 June 2020 16: 03
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    Quote: gorenina91
    Skolkovo believes that the reduction in pipeline gas supplies to Europe is primarily due to increased competition from liquefied natural gas.

    - Ну ...так и кто же этот "конкурент"??? - Американы или...российский НОВАТЭК???
    - Personally, I have already written more than once about the fact that this NOVATEK will be worse than Gazprom in the field of fraud ... - Gazprom is not good for it in this matter ...
    - Что характерно, сегодня НОВАТЭКу даже самому выгодно "попридушить" поприще Газпрома, чтобы обеспечить себе более обширное поле деятельности...
    - We are used to seeing only American machinations in the field of promoting American LNG to Europe ... Yes ...- all this is so ...- the Americans are doing everything possible in this direction ...
    - И всем это давно понятно...- Но за этим стереотипом мышления, что у всех выработался в результате восприятия только такого видения ...-все почему-то не углядели политику НОВАТЭЕКа... - А ведь и НОВАТЭЕКу - тоже не нужен успешный владеющий западным рынком Газпром... - Ему нужна неограниченная сфера деятельности...- скоро ему понадобится продвигать в рынок свои огромные объёмы своего СПГ (по крайней мере, он будет это усиленно имитировать...- мошенник - есть мошенник)... - такие вот волчьи и людоедские законы "любого капитализма"...

    You should understand the situation on the market and the place on it of two Russian companies. In fact, there is no competition between Gazprom and Novatek. It should be borne in mind that our LNG in Europe is delivered to Spain, where our gas does not reach the pipeline, that is, Gazprom and Novatek, but on the contrary complement each other on the European market, are fighting together with competitors from other countries. Prices throughout the world market fell as a result of a warm winter and lower consumption due to coronavirus, as well as after oil, because part of the contracts is tied to oil quotes. To search in this malice of any one company is simply ridiculous and does not stand up to criticism. The new projects of Gazprom and Novatek are also not competitors, they are designed for growing demand in the world market, primarily in Asia, and should strengthen Russia's role in the global energy market.