Can Sokhranovka halt lead to Nord Stream-2 revival?

Oil&Gas Materials 11 May 2022 09:13 (UTC +04:00)
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, May 11. Even when it is said now that Nord Stream 2 can be restored against the decline as a result of the Sokhranovka halt - this is not a fact, expert of the Institute of Energy Research, Ukraine, Yuriy Korolchuk told Trend.

“The consequences have already manifested themselves - the reaction of stock trading, rising gas prices. The companies are looking for other free volumes to compensate for the gas that passed through Ukraine. Accordingly, this creates additional panic, because everyone is panicking because of possible restrictions on gas supplies. In fact, the volume is not large. During the year, approximately 11 billion cubic meters passed through Sokhranovka. That is, the EU must replace 1 billion cubic meters per month. It is 2% of total EU monthly consumption and up to about 5% of those countries that receive gas through Ukraine. And even when it is said now that Nord Stream 2 can be restored against such a decline - this is not a fact. Unless in the case of an absolute cessation of gas transit through Ukraine, it will be possible to see the issue of Nord Stream-2 in the discussion,” he said.

Korolchuk says it cannot be said that it is critical for the EU. Thus, the total volume of transit gas was formed at the expense of Sokhranovka.

“But this direction was also more profitable for Ukraine, for the formation of pressure in the GTS system. This makes it possible to supply gas further across Ukraine, as well as to Moldova. That is, to bear less costs for pumping gas in the GTS system. But in principle, there will be a "shortage" of all those who receive gas through Ukraine - Italy, Hungary, Austria. Germany bought gas through Ukraine and received it through the Czech Republic. The Germans no longer received some of the gas. Although the Czech Republic itself did not buy from Gazprom. Then Germany reversed some of the gas to the Czech Republic. These are ridiculous supply schemes, but they are really beneficial for all parties,” the expert concluded.


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