The value of fuel in Europe fell to round $2,400 per 1,000 cubic
meters, in accordance with London’s ICE, Trend stories as regards to TASS.
The value of September futures on the TTF hub within the Netherlands
fell to $2,405 per 1,000 cubic meters or 276 euro per MWh (based mostly on
the present euro/greenback alternate fee, ICE costs are proven in
euros per MWh).
Last week, the spot fuel value in Europe surpassed $3,000 per
1,000 cubic meters for the primary time because the starting of March,
in anticipation of the suspension of provides by way of Nord Stream for
three days from August 31 on account of repairs of the one fuel compressor
unit remaining in operation.
In flip, Gazprom didn’t rule out that fuel costs in Europe in
winter might rise above the record-breaking $4,000 per 1,000 cubic
Experts interviewed by TASS consider that fuel costs might rise
to a record-breaking $5,000 per 1,000 cubic meters in winter on account of
potential chilly climate and a discount in shares in storage
services. In their opinion, there isn’t any cheap restrict for spot
costs available in the market in the mean time.
Gazprom reported earlier that over 7.5 months of 2022, it
diminished fuel exports to non-CIS international locations by 36.2% to 78.5 bln cubic
Since July 27, the Nord Stream fuel pipeline has been used at 20%
of its most capability as a result of shutdown of a number of fuel
generators. One of them, made in Canada by Siemens Energy, was despatched
to Montreal for repairs. Due to Ottawa’s sanctions in opposition to Moscow,
the producer initially refused to return the repaired tools
to Germany, however after quite a few requests from Germany, it was
determined to return the turbine. On August 31, Gazprom introduced that
the provision of Russian fuel by way of the Nord Stream fuel pipeline has
been utterly stopped, as repairs are beginning on the solely
remaining fuel pumping unit on the Portovaya compressor station.