23.04.2020, 14:58
Gas Sale in Russia Has Become More Profitable Than Export
Source: OREANDA-NEWS
OREANDA-NEWS.As a result of trading on European hubs on Wednesday, April 22, gas was cheaper than in Russia, even without taking into account the 30% export duty and transportation costs.
Gas prices at the most liquid European hubs in the UK (NBP) and the Netherlands (TTF) on Wednesday, April 22, with delivery the next day fell to $ 43 and $ 67 per thousand cubic meters. A month ago, on March 22, on these hubs 1 thousand cubic meters gas cost $ 100 and $ 95 respectively. This happened amid declining demand due to coronavirus, gas storage facilities and warming, Dmitry Marchenko, senior director of the Fitch natural resources and commodities group, told the Russian media.
Gazprom’s budget, which has a monopoly on gas exports from Russia, envisages a price of gas supplies for export at the level of $ 200 per 1,000 cubic meters for 2020. In early February 2020, during the investor’s day, the head of Gazprom Export, Elena Burmistrova, noted that the average annual price of export supplies in 2020 could be adjusted to $ 175-185 per thousand cubic meters.
Gas prices at the most liquid European hubs in the UK (NBP) and the Netherlands (TTF) on Wednesday, April 22, with delivery the next day fell to $ 43 and $ 67 per thousand cubic meters. A month ago, on March 22, on these hubs 1 thousand cubic meters gas cost $ 100 and $ 95 respectively. This happened amid declining demand due to coronavirus, gas storage facilities and warming, Dmitry Marchenko, senior director of the Fitch natural resources and commodities group, told the Russian media.
Gazprom’s budget, which has a monopoly on gas exports from Russia, envisages a price of gas supplies for export at the level of $ 200 per 1,000 cubic meters for 2020. In early February 2020, during the investor’s day, the head of Gazprom Export, Elena Burmistrova, noted that the average annual price of export supplies in 2020 could be adjusted to $ 175-185 per thousand cubic meters.
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