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Russian gas supplies to Europe steady in May

June 04/2020

MOSCOW (MRC) -- Russian gas supplies to Europe remained steady in May with exports flat on the month at 11.1 Bcm, an analysis of S&P Global Analytics and Entsog data showed June 3.

However, Russian exports remain well down on the volumes supplied via the main corridors to Europe last year, with supplies in May down 28% year on year.

A combination of factors -- including a second consecutive mild winter, elevated gas storage stocks and weak demand driven by the coronavirus pandemic -- has seen flows to Europe via Nord Stream, Yamal-Europe, Ukraine and TurkStream fall to an average of 357 million cu m/d so far this year, the data show, down 25% year on year.

For the period January-May, Russian gas supplies into Europe -- excluding the countries of the former Soviet Union in line with Gazprom's own sales data -- total 54.2 Bcm.

State-controlled Gazprom last month said it expected its total gas sales in the Far Abroad (Europe plus Turkey and China, but minus the ex-USSR countries) to be 166.6 Bcm in 2020, which would be a 16% fall on the 199.3 Bcm sold last year.

Alexander Ivannikov, the head of Gazprom's finance department, said the current market environment was the result of a "perfect storm" of bearish factors.

As MRC informed earlier, Gazprom neftekhim Salavat shut down its dioctyl phthalate (DOP) production for a scheduled maintenance. Market participants and a plant"s representative said Gazprom neftekhim Salavat took off-stream its DOP production for a long scheduled turnaround. The outage began on 12 May and will last for about 30 day.

According to MRC's ScanPlast report, Russian producers of unmixed PVC decreased capacity utilisation in April. However, Russia's overall PVC output totalled 351,000 tonnes in January-April 2020, up by 2% year on year.


mrcplast.com
Author:Anna Larionova
Tags:natural gas, PVC, dioktilortoftalati, gas processing, Gazprom, Gazprom neftekhim Salavat.
Category:General News
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