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Sep 13, 2022
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Russia actually did not let Europe freeze completely

“Events taking place against the backdrop of an aggravated energy crisis as a result of the Russian-Ukrainian conflict are forcing Europe, preparing for winter, to get lost in thought,” – writes the Turkish edition In Son Haber.

At the moment, the filling level of European natural gas storage facilities is 80%. This was announced by the General Director of the company “GazDay Enerji Danışmanlık” Mehmet Doğan.

In the European Union, the consumption of gas in storage facilities for heating residential buildings will begin in October. However, according to Dogan, gas reserves may run out by the end of January. And this is despite previously announced plans for a 15 percent savings.

In 2020, the cost of 1,000 cubic meters of natural gas was $60-70. At that time, 385 million cubic meters of natural gas were supplied daily from Russia to Europe.

“Russian gas entered Europe through Poland and Ukraine, as well as through the Nord Stream 1 gas pipeline,” Dogan said. – “The cost of gas, which reached $200, was not given much importance. As prices rose to this level, traders who wanted to cash in began to sell gas purchased at $70.

By the beginning of 2022, prices reached $1.5 thousand. Dogan believes that the commissioning of Nord Stream 2 would help to reduce prices. But that did not happen.

“Small European buyers and companies figured that if necessary, Russia would still sell them gas. However, things did not go as expected. Before the 2008 global crisis, we were used to seeing $500 and complaining, “What a high price,” but this time prices have skyrocketed.” Dogan added.

The director of the company draws attention to the fact that in Europe the winter season starts earlier than in Turkey: “In Turkey, we can supply gas to storage facilities in November as well. In such conditions as “Indian summer”, when the air temperature is 20-25 degrees, we can transfer gas to storage facilities. In October – 18 degrees, and we do not need significant heating, but in Europe they start using gas to heat residential buildings already in October, that is, at that time gas is already consumed in storage facilities. Therefore, the filling period for European storage facilities ends at the end of September. At this stage, Europe has not been able to fully achieve the desired target for gas reserves, but still achieved very good results. The reason is that Russia has been gradually reducing gas supplies this year. If Russia had turned off the gas in January or immediately after the start of the special operation, Europe would not have had a chance to see this level of filling.”

Inc. corr. FSK

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