September 2022

Despite the fact neither Nord Stream nor Nord Stream 2 were flowing gas to Europe at the time of the incidents, gas prices rose as much as 9% in early trading Sept. 27.

According to agreement, the two plants are to be transferred to an operational reserve after the end of their regular service life on 31 December in order to prevent an impending power grid bottleneck in southern Germany.

Director General Grossi said “there is an urgent need for interim measures to prevent a nuclear accident arising from physical damage caused by military means. This can be achieved by the immediate establishment of a nuclear safety and security protection zone.”

Although Pertamina remains cautious and the company declined to make official comments on any concrete plans to purchase Russian crude going forward, Ambara Jaya said that the state-run refiner finds several Russian crude grades to be suitable feedstocks.

U.S. commercial crude oil inventories decreased by 0.2 million barrels to 430.6 million barrels.

Brent fell $1.02, or 1.2%, to $85.25 per barrel , WTI were down 97 cents, or 1.2%, at $77.53 per barrel.

Dutch front-month gas, the European benchmark, rose 11% to 206 euros per megawatt-hour at 8:47 a.m. in Amsterdam. Price increased 7.1% on Tuesday.

The currently out-of-action Nord Stream pipeline system was damaged, with Germany saying it suspected it was an act of sabotage.

Naftogaz and Gazprom signed in December 2019 a gas transit agreement under ship-or-pay terms, meaning Gazprom is obliged to pay for transit whether it uses it or not.

The net profit amounted to RUB 2.514 trillion, which not only marks a 2.6-fold increase against the amount recorded in the first half of 2021 but also exceeds the total profit of the Gazprom Group for the two previous calendar years!