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FX.co ★ Gazprom’s gas exports to Germany hit record high

Gazprom’s gas exports to Germany hit record high

Gazprom’s gas exports to Germany hit record high

Russian gas producer Gazprom exported a record 635.6 million cubic meters of gas to Germany for the third day in a row, starting from January 26. It is a new absolute record of daily supplies for the eighth time since early January, and for the eighteenth time since October 2016. The previous record of 635.1 million cubic meters a day was set on January 25.

Analysts note that a rise in Russian gas exports is recorded in all directions. The Nord Stream pipeline as well as the Yamal-Europe and the Blue Stream pipelines operate at the maximum capacity, while transition of gas through Ukraine exceeds the planned daily volume by more than 100 million cubic meters, Gazprom said in a statement on Friday.

Germany is the largest consumer of the Russian gas. On January 26, it boosted consumption to the record level of 163.9 million cubic meters, up 32% from a year ago.

Gazprom said that its gas exports to Europe have increased, particularly, shipments to Germany have risen. In the period January 1-26, Germany has bought 4.2 billion cubic meters of gas, up 709.5 million cubic meters compared with the same period last year.

In the period January 1-15, Russian shipments of gas to far-abroad countries rose by record 1.9 billion cubic meters (25.5%) from the same period a year ago.

Gazprom's gas exports to Europe hit an all-time high for the gas industry in 2016, totaling 179.3 billion cubic meters.

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