Russian gas, Turkish hub takes shape and exports to Europe start to rise again
The Russian gas is coming back forcefully in Europe. The data on the first half of the year relating to exports leave no doubts: there is a net increase of 25% compared to 2023The data on the Russian gas giant is also emblematic Gazpromnet profit tripled in the same period. This is – reports Il Sole 24 Ore – a commercial success that leaves one speechless, after over two and a half years of war in Ukraineand which has already contributed to to improve the company’s accounts close to the Kremlinwhose net profit – as reported last week – is reached 1.043 billion rubles (11.3 billion (of dollars). Gazprom’s supplies to Europe have indeed fallen by about two-thirds from pre-war levels, but they do not appear to be anywhere near zero. On the contrary. In July – while EU countries were filling their storageup to 90% of capacity two months ahead of schedule – they arrived via pipeline from Russia 2.52 billion cubic meters of gas.
The Russian company – continues Il Sole – is offering discounts of 10% and morewith the aim of regain market share in the Old Continentaccording to Aura Sabadus, analyst at Icis. But above all it is laying the foundations to ensure that the transition of supplies will continue from next year onwards, when the contract for transit in Ukraine will expire. An increasingly clear strategy, which Fly is carrying forward with the firm support of the Türkiye – where the new begins to take shape “gas hub” that the Kremlin had been envisioning since 2022 – and with the collaboration of several other countries. Among them, some EU members, such as Hungary and Bulgariabeyond to Azerbaijanwhich with its own resources is not able to double its gas exports to Europe by 2027, allowing the Tap gas pipeline to be strengthened, and is now suitable for facilitate the distribution of Russian gas.
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