Russia’s single largest export pipeline to the EU, Nord Stream 1, will remain unavailable this winter. The pipeline’s unplanned outage was extended until April. The EU is striving to replace the lost Nord Stream 1 supplies and overall most of the lost Russian pipeline supplies with global LNG.
The risk of further cuts to Russian pipeline gas supplies to the European Union has increased since yesterday after Russia’s state-owned gas producer Gazprom warned that Russia could impose sanctions against Ukraine’s Naftogaz.
Germany is the EU’s largest consumer of Russian natural gas but the threat of weaponizing Russian supplies as we approach winter. To put the volumes at stake into perspective, this article provides a quantitative assessment of the pre-war baseline, the current status quo, as well as possible future developments. Our conclusion examines the degree to which measures that are currently being taken by Germany can counter cuts in Russian supply.
Violent clashes between protesters, police and the army broke out in Kazakhstan after the government lifted its price cap on LPG, which is widely used as a motor fuel in the country.
In this update Alex Booth, Kpler's Head of Research comments on the developments through the day in Ukraine and the potential market and geopolitical ramifications.