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Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per day (mcm/d) – 40% of the pipeline’s overall capacity. The European gas market has reacted, with prices down by 5%; but the stability of Russian gas flows is by no means a given, according to analysts at Wood Mackenzie.
Risk of a cold winter, uncertainty around pipeline imports and low gas inventories have set the scene across Europe for another volatile year ahead, with the potential for gas prices to soar further and energy shortages to bite.
Wood Mackenzie, releases its Global gas and LNG – 6 things to watch for in 2022 report.
The gas transit and supply contracts between Russia and Ukraine expire at 10 am on 1 January 2020 (Moscow time) – the future of Ukraine transit remains the largest uncertainty for global gas markets in 2020. Murray Douglas, director, European gas at global natural resources consultancy Wood Mackenzie, said: “Ukraine remains the major transit route for Russian gas into Europe – over 76 billion cubic metres (cm) will be transported via Ukraine this year."
Arctic LNG-2 is a step closer to final investment decision (FID) with the entry of Japanese companies Mitsui and government-linked Japan Oil, Gas and Metals National Corporation (JOGMEC) into the project.
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