EGF Gazprom Monitor, Issue 120, May 2021

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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:

  • Europe: European market experiencing relative high Spring prices as market participants keen to replenish storage stocks after a cold winter — Challenge for Gazprom?
  • Nord Stream 2: US waives sanctions against Nord Stream 2 project company, but sanctions several Russian-owned vessels involved in the project; Nord Stream 2 pipeline construction edges closer to completion
  • Ukraine: Gazprom books additional firm, but not interruptible, transit capacity via Ukraine for June, as it did for May
  • Other: Gazprom charters two more LNG carriers as LNG sales in 2020 grow by 95%
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