LNG

Dec 2 (LNGJ) - Russian natural gas company Gazprom's pipeline natural gas exports to regions such as the European Union tumbled by 44.5 percent, or by 76.3 billion cubic metres, to 95.2 Bcm in the first 11 months of 2022.

   The average daily export by Gazprom also dropped in November alone by 3.9 percent from the previous month of October. Gazprom added that its overall gas production had declined by 19.4 percent year-on-year to 376.9Bcm. Data showed that demand for Gazprom's gas from the gas transmission system in the domestic market of Russia decreased by 5.7 percent, or by 12.8 Bcm, over the 11 months.

Germany has now nationalized a former subsidiary of Russian natural gas company Gazprom that had already been taken control of by the German authorities in April as part of sanctions and energy security measures after Russia’s invasion of Ukraine.

Russian natural gas company Gazprom said exports to countries outside the former Soviet Union were down more than 33 percent year-on-year in the 2022 period from January through July 15 as the Nord Stream I pipeline to Germany was closed for a seventh day of a scheduled 10 days of maintenance.

Dynagas LNG Partners, the owner of six LNG carriers and mostly involved in Russian cargo liftings, has confirmed in its latest earnings report that three of its carrier charters are now controlled by the German government because they were under contract to Russian natural gas company Gazprom.

Nord Stream AG, the Swiss-based owner of the Nord Stream I pipeline flowing to the European Union in competition to LNG markets, said 10 days of maintenance had been successfully completed on its twin lines as Gazprom spoke out in support of Nord Stream II, set to be completed by the end of August.

North Asian LNG spot prices came off recent seasonal highs to drop into the $12.00 per million British thermal units zone as European values also eased and an economic recovery was awaited to match all the talk amid mixed signals from the oil market.