EGF Gazprom Monitor, Issue 103, December 2019

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A Snapshot of Key Developments in the External Relations of the Russian Gas Sector

By Dr Jack Sharples, EGF Associate Researcher on the External Dimensions of Russian Gas and Research Fellow on the Natural Gas Research Programme, Oxford Institute for Energy Studies

Key points:

  • Gazprom on the European market: Europe entering Christmas period with record high storage and lowest prices since Dec 2009
  • Nord Stream: Race to finish Nord Stream 2 before probable US sanctions take effect
  • Southern Corridor: Turkish Stream set for launch on 8th of January 2020 as Russian President accuses Bulgaria of delaying work on its onward section of Turkish Stream; Bulgartransgaz Executive Director promises transit of gas from Turkish Stream via Bulgaria to Greece and North Macedonia if Ukrainian transit suspended
  • Ukraine: Naftogaz CEO sees little chance of new transit deal before 31st December ahead of latest trilateral talks on 19th of December
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