Smith: Russian gas transit through Ukraine may increase after colder weather in Europe
Demand for Russian gas in Europe is still held back by warm and windy weather but supplies of the “blue fuel” from Russia through the Ukrainian territory may increase starting from Monday after a colder weather in the European region, Ronald Smith, senior analyst at BCS World Investments, told RIA Novosti.
Transit of gas from Russia through the gas transportation system of Ukraine to Europe since late May, except for some days, was kept at the level of 40-43 million cubic meters per day, but since January 4 the figure dropped below 38 million cubic meters. At the same time, deliveries have remained at 35.5 million cubic metres on eight consecutive days.
“Warm and windy weather in Europe since December 20 has sharply reduced the demand for gas. Storage withdrawals have been very low. The weather should normalise from next Monday, so perhaps exports will increase,” Smith suggested.
Bloomberg reported that Europe is expected to have its warmest January in years. Data from Wind Europe, the European Wind Energy Association, showed that energy production from wind farms in the EU has averaged nearly 26% since the start of January, 1.7 times the annual average of 15%.
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