Russian Gas Flows via TurkStream Reach Historic Level in July

In July, Russian gas flows to Europe via the TurkStream pipeline reached their second-highest monthly level since its operation began, according to data from S&P Global Commodity Insights.

Share:

Flux de gaz russe

In July, the TurkStream pipeline, linking Russia to Southeast Europe, transported an average of 45.5 million cubic meters of gas per day, for a total of 1.41 billion cubic meters over the month.
This volume was surpassed only in August 2023, with 1.43 billion cubic meters.
These figures show a steady demand for Russian gas in this region.
Pipeline deliveries of Russian gas to Europe are currently limited to TurkStream and transit via Ukraine, entering at the Sudzha point.
In July, total pipeline flows to Europe reached an annual peak of 2.52 billion cubic meters, up 15% on June and 11% on the previous year.

Impact on beneficiary countries

Among the main beneficiaries of gas via TurkStream are Hungary and Serbia, two countries with close ties to Moscow.
Hungary, one of the few EU countries to continue importing significant volumes of Russian gas, signed a 15-year agreement with Gazprom in September 2021 for the supply of 4.5 billion cubic meters per year, while importing additional volumes.
Russian gas via TurkStream can also be delivered to Romania, Greece, Northern Macedonia and Bosnia-Herzegovina.
These diversified deliveries underline TurkStream’s strategic importance in European energy geopolitics.

Ukrainian Transit: A Complex Equation

Despite the ongoing war, Gazprom continues to export gas to Europe via Ukraine, with stable deliveries in 2024 of around 42 million cubic meters per day.
However, the five-year gas transit agreement between Russia and Ukraine is due to expire at the end of 2024.
This could affect countries like Austria and Slovakia, which still depend on this transit.
OMV, the Austrian company, has already announced that it will not sign a new transit contract for Russian gas deliveries.
OMV CEO Alfred Stern said the company would stick to the contractual delivery point at the Slovak-Austrian border.
This reflects a cautious strategy in the face of post-2024 gas transit uncertainties.

Post-2024 scenarios

Slovakia is considering the creation of a European consortium to take delivery of gas at the Russian-Ukrainian border, a solution deemed “feasible” by SPP, the Slovakian company.
Hungary’s MVM supports any solution that guarantees a secure gas supply.
Azerbaijan’s president, Ilham Aliyev, has stated that Azerbaijan has been approached by Kiev and the EU to facilitate a possible extension of the transit agreement.
Discussions are also underway with Russia to ensure future transit via Ukraine.

Prospects and challenges

Without gas flows via Ukraine, countries like Austria and Slovakia could face serious challenges, potentially requiring significant additional expenditure to secure alternative sources of gas.
In 2023, Russian gas deliveries via Ukraine totaled 14.65 billion cubic meters, down 28% on the previous year and 65% on 2021.
The geopolitical situation and market dynamics will continue to shape the future of Russian gas flows to Europe.
It is crucial to assess and implement sustainable solutions to guarantee the continent’s energy security.
Azerbaijan’s role in negotiations and the creation of European consortia could play a key role in shaping these flows.

  • Populaires ​
Shell ships first LNG cargo from its LNG Canada facility
Japan and Siemens Gamesa sign strategic offshore wind agreement
CBAK Energy invests $357 million in Malaysia with Anker Innovations
HyperStrong and Repono launch 1.4 GWh of energy storage in Europe by 2027
Atmos Renewables finances major energy storage project in Australia
Heatwave in China: Electricity Demand Surges, LNG Imports Slow
The extreme heatwave in China has led to a dramatic rise in electricity consumption, while Asia records a significant drop in liquefied natural gas imports amid a tight global energy context.
E.ON expands energy automation with a cogeneration plant in Neuss
E.ON, together with MM Neuss, commissions Europe’s first fully automated cogeneration plant, capable of achieving a 91 % fuel-use rate and cutting CO₂ emissions by 22 000 t a year.
Argentina restricts industrial gas amid historic cold snap
Facing the lowest temperatures recorded in 30 years, the Argentine government announces reductions in natural gas supply to industries to meet the exceptional rise in residential energy demand across the country.
Strong Rise in Solar Power Reduces Summer Demand for Natural Gas
Solar power generation increased sharply in the United States in June, significantly reducing natural gas consumption in the power sector, despite relatively stable overall electricity demand.
Exxon and QatarEnergy ask US for permission to re-export LNG from October
Golden Pass LNG, jointly owned by Exxon Mobil and QatarEnergy, has asked US authorities for permission to re-export liquefied natural gas starting October 1, anticipating the imminent launch of its operations in Texas.
Delfin Midstream secures strategic agreement with Siemens Energy and Samsung
Delfin Midstream reserves gas turbine manufacturing capacity with Siemens Energy and initiates an early works programme with Samsung Heavy Industries, ahead of its anticipated final investment decision in the autumn.
DNO secures USD 500 million financing linked to Norwegian gas
Norwegian group DNO ASA signs gas offtake contract with ENGIE and secures USD 500 million financing from a major US bank to guarantee future revenues from its Norwegian gas production.
Golar LNG raises $575mn through bond issuance and repurchases shares
Golar LNG Limited has completed a private placement of $575mn in convertible bonds due in 2030, using part of the proceeds to repurchase and cancel 2.5 million of its own common shares, thus reducing its share capital.
Australia considers east coast gas reservation as market pressures intensify
The Australian government is considering the establishment of an east coast gas reservation as part of a sweeping review of market rules to ensure supply, with risks of shortages signalled by 2028.
The drilling fluids industry will reach $10.7bn by 2032 driven by oil expansion and chemical innovations
The increase in oil drilling, deepwater exploration, and chemical advances are expected to raise the global drilling fluids market to $10.7bn by 2032, according to Meticulous Research.
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
Enbridge Gas Ohio is assessing its legal options following the Ohio regulator's decision to cut its revenues, citing potential threats to investment and future customer costs.
Global small-scale LNG market to reach $31.78bn by 2030
The small-scale liquefied natural gas market is forecast to grow at an annual rate of 7.5%, reaching an estimated total value of $31.78bn by 2030, driven particularly by maritime and heavy-duty road transport sectors.
Europe extends gas storage obligations until 2027
The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
Chevron and Energy Transfer Expand Their LNG Agreement at Lake Charles
Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside completes sale of 40% stake in Louisiana LNG project to Stonepeak
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic takes over Royal Helium and fast-tracks Steveville plant restart
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
Fusion Fuel: Al Shola Gas secures AED4.4 mn ($1.2 mn) in contracts
The Irish-Portuguese company Fusion Fuel strengthens its footprint in the United Arab Emirates as subsidiary Al Shola Gas adds AED4.4 mn ($1.2 mn) in new engineering contracts, consolidating an already robust 2025 order book.
Cheniere Energy Approves Expansion of Corpus Christi LNG Terminal for 2029
Cheniere Energy validates major investment to expand Corpus Christi terminal, adding two liquefaction units to increase its liquefied natural gas export capacity by 2029, responding to recent international agreements.
LNG industry could reduce emissions by 60%, according to IEA
A study by the International Energy Agency reveals that global emissions from liquefied natural gas could be significantly reduced using current technologies.
Europe accelerates gas storage filling despite declining reserves
Europe is injecting natural gas into underground storage facilities at a three-year high, even as reserves remain below historical averages, prompting maximized imports of liquefied natural gas (LNG).

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS