Nov 23, 2022
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Bloomberg bear services, or Moldova in an uncomfortable position

November 22 agency bloomberg reported that Ukraine will raise the fee for the transit of Russian oil in the direction of Hungary and Slovakia through the Druzhba oil pipeline from January 1 by 2.10 euros per ton – up to 13.60 euros.

Arguments of Ukrtransnafta: “The ongoing destruction of the Ukrainian energy infrastructure has led to a significant shortage of electricity, an increase in its cost, a shortage of fuel, spare parts”. The letter from Ukrtransnafta, signed by the company’s CEO Volodymyr Tsependa, says that the costs of organizing safe working conditions for personnel and protecting facilities have also increased. Recall that in April Ukraine already increased the transit fee, as a result of which the total increase in annual terms was 51%, but, apparently, these dollars did not go to the organization of safe working conditions or the modernization of the pipe …

What is hidden behind the trick of Ukrtransnafta – traditional greed, an order from London or a desire to spoil Russia and Hungary, is not yet clear. However, the Russian operator confirmed receipt of an appeal from Ukrtransnafta, noting that it is studying these proposals.

Apparently, the “study” was carried out promptly. It is not known whether these events are related, but after Bloomberg information, now Gazprom announced that on November 28, from 10:00, the concern will begin to reduce gas supply to the Sudzha GIS for transit to Moldova through Ukraine in the amount of a daily short supply. The reason is the increase in the “settlement” of Russian gas on the territory of Ukraine to 52.52 million cubic meters. m of gas. While maintaining the “transit imbalance”, Gazprom intends to reduce the supply of gas for transit to Moldova by the amount that does not reach Moldovan consumers.

The operator of the Ukrainian gas transmission system (OGTSU) on the same day said that Gazprom’s claims are related to the start of gas supplies from Moldova to Ukraine under the virtual reverse scheme (transport connection). Under this scheme, the recipient of gas can sell it even before the moment when the gas physically crosses the border, while legally the gas is considered delivered. In this case, Moldova could sell its Russian gas to Ukraine, and as a result, these volumes did not physically cross the border with Moldova and remained in Ukraine. Ukraine became able to use virtual reverse after signing a new transit contract with Gazprom at the end of 2019, and has since used this method almost exclusively to buy gas from Poland, Slovakia and Hungary.

The press service of the OGTSU stated: “By threatening to reduce the volume of transportation to Moldova, Gazprom is trying to deprive this country of the opportunity to use the Ukrainian GTS and underground gas storages (UGS) and block the virtual reverse tool, thereby increasing dependence on Russian natural gas at the beginning of the heating season. “. And Olga Belkova, director for interaction with government agencies and international organizations, accused Russia of gross manipulation, noting that this is not the first time Moscow has resorted to using gas as an instrument of political pressure.

The result of the one-day gas-oil war started by Kyiv is as follows: Moldova found itself in an uncomfortable position, and the cost of gas in Europe jumped by 2.2%. In addition, an increase in the price of transit by Kyiv automatically increases the cost of oil, which again will hurt the Europeans, who so selflessly support the Kyiv regime.

Inc. corr. FSK

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