Gazprom exports down 27.6% in 5M 2022
The exports of Russia's Gazprom to the so-called Far Abroad, meaning Europe plus Turkey minus countries of the former Soviet Union, was down 27.6% year/year in the first five months of 2022, the company reported on June 1.
The decline reflects Gazprom's move to cut off gas supply to Bulgaria and Poland at the end of April, and Finland in late May, after their refusal to adjust payment procedures in line with Moscow's demands. The Kremlin decreed on May 31 that gas customers in "unfriendly countries" must open accounts at Gazprombank, for the exchange of their bills into rubles.
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Russian gas supply to the Far Abroad came to only 61bn m3 in the year up to the end of May. The company's production was down 4.8% yr/yr at 211.4bn m3.
Gazprom also halted gas supply to Denmark and the Netherlands at the end of May, as well as to several private companies including Shell Energy Europe, which has a contract for gas shipments to Germany.