Page 114 - RusRPTMar21

January 2020 to 96.2bcf (2.7bcm) in July 2020 as cargoes were cancelled, but they were up to a record 280.7bcf (7.9bcm) in November 2020, which is the last reported data point, according to EIA data. Total LNG exports from the US from January to November 2020 were 2,056bcf (59.1bcm), up 30% YoY.
Gazprom exported record volumes for the month of January to non-FSU countries this year (+45.5% YoY to 19.4bcm). As reported earlier this month, the dynamics were as follows:
Germany: +32.4% YoY
Italy: +221.5% YoY
Turkey: +20.8% YoY
France: +77.3% YoY
The Netherlands: +21.2% YoY Poland: +89.9% YoY
Gazprom also reported that non-FSU exports were up 36.5% YoY to 27.5bcm for the first one and a half months of 2021. Gazprom booked additional capacity of 14.2mmcm/day for transit via Ukraine for March (flat MoM) at an auction yesterday, Interfax reported. As a reminder, Gazprom agreed to ship 40bcm/year via Ukraine from 2021-24. Gas production in Russia decreased from 738.4bcm in 2019 to 692.9bcm in 2020, and its share of production in Russia decreased from 67.7% to 65.3%.
Gazprom’s export price averaged $157/kcm in December 2020, according to the Federal Customs Service data, as reported by Interfax. Separately, the utilisation of European underground gas storage (UGS) facilities continues to decline and now stands at around 50% of capacity, Interfaxwrites. As of 6 February, 47bcm of gas had been lifted from European UGS, which is 13% more than the amount injected into storage ahead of the winter season and 8% greater than what was lifted last winter.
Additionally, the construction of two lines of Nord Stream 2 in Denmark’s exclusive economic zone is to be finished by the end of April 2021, according to a notice published by Denmark’s maritime agency, per Interfax. The pipe-laying vessel Fortuna has resumed pipe laying operations after the completion of all preliminary tests.
The realized sales price of USD 157/kcm in December 2020 comes after the average realised prices of USD 155.40/kcm in November and USD 146/kcm in October, which means that Gazprom’s average realised price in 4Q20 was USD 153/kcm.
Underground storage in Europe is 47.9% full vs. 68.2% full in February 2020 and 48.5% full at this time in 2019. Kommersant reports that Gazprom is
114 RUSSIA Country Report March 2021 www.intellinews.com