HomeMediaLatest NewsTill NS-2 has not been launched. Germany can earn up to $ 100 million a month on Russian gas

Till NS-2 has not been launched. Germany can earn up to $ 100 million a month on Russian gas

17 December 2021

Gromov Alexey I. Principal Director on Energy Studies, Head of the Energy Department
Kondratiev Sergey V. Deputy Head of the Economic Department, Head of the Real Sector Group

Alexey Gromov, Principal Director on Energy Studies and Sergey Kondratiev, Deputy Head of the Economic Department of the Institute for Energy and Finance, commented on the situation around Nord Stream 2 to Gazeta.Ru.

How much Germany will earn

According to Sergey Kondratiev, senior expert at the Institute for Energy and Finance, re-export of fuel to neighboring Czech Republic, Poland and France brings German private companies about $ 750-800 from each thousand cubic meters sold. As a result, monthly revenue in this situation can bring Germany up to $ 100 million per month.

“Germany receives gas 10-20% cheaper than neighboring Poland and Lithuania. Reselling cheap Russian gas can be twice as expensive given the record high exchange quotations. However, the volumes of re-export transactions are usually not very large, about 100-200 million cubic meters. As a result, we will get a monthly margin of about $ 40-80 million, maximum $100 million,” the expert emphasized.

The EU destroys the gas market

Alexey Gromov, Principal Director on Energy Studies at the Institute for Energy and Finance, in an interview with Gazeta.Ru, questioned the commercial benefits of Germany from the slowdown in the commissioning of Nord Stream 2. According to the expert, German Chancellor Olaf Scholz was lying by stating the non-political nature of the decision.

A series of controversial statements by European officials, starting with the statement by the country's Foreign Minister Annalena Baerbock about the non-compliance of the NS-2 with EU legislation and ending with the European Commission's intention to abandon long-term gas contracts after 2049, speaks of the desire to quickly implement a "green" energy transition. After each such statement, the exchange gas prices rose sharply, which cannot be a mere coincidence, Gromov assures.

“Germany found itself in a very difficult situation. Within the country, a coalition of parties with opposing interests has formed. Scholz is under pressure not only from the head of the Greens, Annalena Baerbock, but also from the United States, Eastern Europe and Russia. Gazprom does not like the current situation very much,” the expert noted.

He also added that despite the increase in the monopolist's profits from record-high fuel sales, such expensive exchange quotations serve as a strong precondition for a sharp decline in demand from European consumers in the medium term.


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