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Russia's May pipeline gas exports to Europe dive 39%, computations reveal

Russian energy giant Gazprom's average everyday gas products to Europe in May increased by 7.3% from April and 39% year on year, computations revealed on Monday.

The calculations, based on information from the European gas transmission group Entsog and Gazprom's day-to-day reports on gas transit via Ukraine, revealed that average daily pipeline exports to Europe increased to 89.5 million cubic metres (mcm) last month from 83.4 mcm in April and 64.5 mcm in May 2023.

Gazprom's natural gas exports to Europe up until now this year have reached about 13 billion cubic metres (bcm).

Europe was as soon as Russia's primary export market and now gets much less Russian gas as a result of the political action to the conflict in Ukraine.

Gazprom has not published its own month-to-month stats given that the start of 2023. It did not respond to an ask for remark.

Russia provided an overall of about 63.8 bcm of gas to Europe by different routes in 2022, according to Gazprom data and calculations. The volume reduced further, by 55.6%, to 28.3 bcm in 2015.

Gazprom sustained losses of nearly $7 billion in 2023 - its very first annual loss considering that 1999 - owing to falling gas exports to Europe.

At their peak in 2018-2019, annual circulations to the area reached between 175 bcm and 180 bcm.

(source: Reuters)