Energy

With Europe facing a 25% cut in pipeline gas from Russia in July, Gazprom yesterday refused Ukraine’s offer to ship 50% more Russian gas to the EU in July

Wednesday, June 30, 2021

. Two Russian pipelines – Nord Stream 1 and Yamal-Europe – are to undergo maintenance in July, reducing flows from Russia by 2.2 billion cubic meters. With these scheduled shutdowns in mind, Ukraine’s Gas Transmission System Operator offered to increase daily transit by 51%, to 188 million cubic meters.

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Wednesday, June 30
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News that Gazprom spurned Ukraine’s offer pushed Europe gas prices yesterday over $400/1,000 cubic meters, the highest level in over a decade.

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