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Energy crisis: EU achieves gas storage targets earlier than expected

2022-09-01T03:16:00.658Z


Energy crisis: EU achieves gas storage targets earlier than expected Created: 09/01/2022 05:07 By: Patricia Huber No Russian gas is flowing through Nord Stream 1 again. The big question is whether deliveries will resume after the maintenance. All information about the gas crisis in the news ticker Poland has gaps in the gas supply : the responsible energy company could not buy enough gas. Gazp


Energy crisis: EU achieves gas storage targets earlier than expected

Created: 09/01/2022 05:07

By: Patricia Huber

No Russian gas is flowing through Nord Stream 1 again.

The big question is whether deliveries will resume after the maintenance.

All information about the gas crisis in the news ticker

  • Poland

    has

    gaps

    in the

    gas supply

    : the responsible energy company could not buy enough gas.

  • Gazprom

    makes

    billions in profits

    : The Russian gas group earned over 45 billion euros in the first half of the year.

  • Russia stops gas delivery

    through Nord Stream 1: The maintenance should last until September 2nd.

  • This news ticker on the

    gas crisis

    is constantly updated.

Update from August 31, 12:26 p.m.:

The European Union has reached its gas storage target two months in advance.

According to data from European gas storage operators, European reserves were 80.1 percent full on Wednesday.

The German gas storage exceeded the mark even further and reached a level of almost 84 percent on Wednesday.

Because of the war in Ukraine, the European Union had passed a new law, according to which the reservoirs must be 80 percent full by November 1st this year.

The aim is to be better prepared for a possible total failure of Russian gas supplies.

In Germany, the storage tanks should be at least 85 percent full on October 1st and at least 95 percent on November 1st.

The amount of gas stored at a level of 95 percent corresponds approximately to the nationwide consumption of the two months of January and February 2022.

Poland has gaps in gas supply

Update from August 31, 10:46 a.m .:

In Poland, natural gas could soon become scarce.

Because the government's plans to get the missing Russian gas elsewhere have largely failed.

Actually, Poland wanted to get the raw material through the newly built Baltic Pipeline.

But this is likely to remain empty for the time being, since the majority state-owned Polish energy company PGNiG has not managed to buy the required quantities, as the

Handelsblatt

reports.

The reason for the reluctance to buy is the high price Norway charges for gas.

So now there is a gap in Poland's energy supply - and it could also have an impact on Germany.

Because in an emergency, it can be expected that Poland will turn to its neighbors.

Gazprom makes billions in profits

Update from August 31, 9:41 a.m .:

Despite Western sanctions, Gazprom claims to have made record profits in the first half of the year.

According to this, the group reported a net profit of 2.5 trillion rubles from January to June - that's the equivalent of 46.5 billion euros.

The state-owned company pointed out via Telegram that the result had been achieved despite punitive measures due to the Ukraine war against Russia and an “unfavorable environment”.

Gazprom will now pay each shareholder 51.03 rubles per share.

In the spring, the energy giant had dampened expectations for 2022.

Russia halts Nord Stream 1 delivery

First report from August 31, 9:22 a.m .:

Russia stopped the gas supply via the Nord Stream 1 Baltic Sea pipeline, which had been severely restricted for months, early on Wednesday morning as announced.

According to information on the Nord Stream AG website, no significant amount flowed between 3 a.m. and 4 a.m.

In the hour before, it had therefore fallen.

The Russian state-owned company Gazprom had announced that the pipeline would be closed from August 31 to September 2 for maintenance work.

On Wednesday morning, Gazprom announced on the Telegram news channel that "supply via Nord Stream has been completely stopped".

Scheduled maintenance work begins on a compressor station.

(ph/dpa)

Source: merkur

All news articles on 2022-09-01

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