Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, commented to the PRIME Economic Information Agency on the risks of a physical shortage of gas in the EU this winter.
Alexey Gromov draws attention to the fact that recently the conflict between Gazprom and Naftogaz escalated due to the fact that the Ukrainian company demanded through the International Court of Arbitration (IAC) payment for the non-performed transit through the branch passing through the GIS "Sokhrovka ". The Ukrainian side refers to the contract, according to which Gazprom is obliged to pay for transit, even if it is not physically carried out.
With underground gas storages (UGS) in Europe currently filled to unprecedented levels of around 90%, the region is likely to go through the first half of the winter without problems, Gromov admits. However, in the event of a too cold winter, there is a high probability that by March the situation will worsen sharply, and a truly difficult period will come in Europe.
“The problem is that it was Naftogaz at a certain point that refused to accept fuel destined for Europe, which entered the territory of Ukraine through Sokhranivka, and therefore the position of the Ukrainian side angered the Russian supplier,” the specialist explains.
Alexey Gromov notes that the existing regasification facilities allow increasing LNG imports to the region. However, there is a clear shortage of this fuel on the world market, and in reality it is not possible to significantly increase supplies.
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