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Traders no longer see risks of Europe passing this winter – ex-head of GTSOU
KYIV. Jan 19 (Interfax-Ukraine) – The continuing decline in the physical flows of Russian natural gas through Ukraine and Turkey in January 2023 indicates that traders no longer see the risks of Europe passing this winter, Serhiy Makogon, ex-head of Gas Transmission System Operator of Ukraine (GTSOU), has said.
He wrote about this on his Facebook page.
The application for the transit of Russian gas through the GTS of Ukraine as of January 19 was reduced by 25% (by 8.2 million cubic meters) compared to January 18, to 24.4 million cubic meters, including 19 million cubic meters for Europe, and the rest for Moldova, Makogon said.
"This suggests that Western traders no longer see the risks of passing this winter, therefore they are not ready to import gas at any cost. And when gas prices on the exchanges dropped to $600 per 1,000 cubic meters, traders refused to order additional volumes under existing long-term contracts with Gazprom in favor of purchases on the exchange," the ex-head of the GTSOU said.
"And very soon the Freeport LNG terminal, which is responsible for 20% of American LNG exports and has been under repair since June, will start working. Therefore, Gazprom’s income will be clearly unenviable. Russia’s energy blackmail has not worked," he added.
As reported, since June 2022, the transit of Russian gas through the GTS of Ukraine amounted to about 42 million cubic meters, from January 2023, it began to gradually decline amid warm weather, a high level of stocks in UGS facilities in the EU, and stock prices that dropped to a 16-month low in Europe.
