The application for the transit of Russian gas through the territory of Ukraine remains at the level of the previous days and months.
Europe has been without Nord Stream gas for the second day.
The energy deficit was aggravated by a two-fold drop in electricity production due to wind.
TRANSIT THROUGH UKRAINE
“Operator GTS Ukrainy” accepted from “Gazprom” an application for gas transit for Tuesday in the amount of 41.2 million cubic meters. m, evidenced by OGTSU data. The indicator on Monday was 41.1 million cubic meters. m. Powers are declared only at one of the two points of entry into the Ukrainian GTS – the Suzha gas measuring station. The application was not accepted for the corridor through the Sokhranovka GIS.
OGTSU announced a force majeure for the acceptance of gas for transit through the GIS station “Sochranovka”, referring to the fact that it cannot carry out operational and technological control over the compressor station “Novopskov”.
Kyiv offered to transfer transit volumes from “Sochranovka” to GIS “Suja”, but “Gazprom” stated that this was technologically impossible.
At the same time, Ukraine insists that payment should still be made on the basis of the estimated volume of transportation of the long-term contract of 109 million cubic meters. m per day according to the “download or pay” rule. “Naftogaz” claims that it is now not receiving payment for transit and is preparing to apply to arbitration.
EUROPEAN MARKET
At the beginning of the new week, the production of electricity due to wind in Europe fell to 7.6% of the energy balance in the EU, while the average indicator for the past week was 15%, according to data from the WindEurope association.
Europe continues to pump gas into underground storage facilities. At the moment, the reserves are about 62.08%, according to data from the Gas Infrastructure Europe association. The increase over the last day was 0.46 percentage points. The current level of reserves in the UGC of Europe lags behind the five-year average by 1.24 percentage points. Since this year, the EU has introduced strict regulation of the use of underground storage facilities. By the beginning of the selection season in 2022, the reserves should be at least 80% of the capacity of the UHP, and 90% thereafter.
European terminals for receiving LNG in July are operating at an average capacity of 63% of their capacity, which is equal to the June indicator. For now, the region remains a premium market for LNG, as prices in Asia are slightly lower than European hubs.
Spot prices for gas in Europe against the background of the Nord Stream repair shutdown are at the level of $1,690 per thousand cubic meters. In Asia, prices are noticeably lower – the August futures on the JKM Platts index (Japan Korea Marker – reflects the spot market value of cargo delivered to Japan, South Korea, China and Taiwan) is trading at $1,390.
