An expert assessed the impact of increased gas supplies to Europe on the growth of industry revenue

/ /
An expert assessed the impact of increased gas supplies to Europe on the growth of industry revenue
05.09.2024
24
The growth in gas supplies to Europe has contributed to an increase in revenue from the gas sector in Russia, noted Sergey Tereshkin, CEO of the OPEN OIL MARKET platform for petroleum products and raw materials. He told Izvestia on September 5 that the growth in revenue from the mineral extraction tax (MET) and export duties on gas is likely to persist in the coming months, as gas transit through the Sudzha gas metering station remains stable.

"Federal budget revenues from MET and export duties on gas in the first eight months of 2024 increased by 9% compared to the same period in 2023, or by 98 billion rubles in absolute terms, according to the Ministry of Finance. A key factor was the increase in gas supplies to Europe, which ultimately led to an increase in gas production," he noted.

Referring to data from the European Network of Transmission System Operators for Gas (ENTSOG), the expert clarified that Gazprom's average daily exports to the European Union (EU) in the first eight months of 2024 grew by 35% year-on-year, reaching 97 million cubic meters per day compared to 72 million cubic meters per day in January–August 2023.

This figure includes transit supplies to Serbia and North Macedonia, which are delivered via the Balkan branch of the TurkStream pipeline. As a result, Russia's natural gas production in the first seven months of 2024 increased by 10.6%, reaching 334 billion cubic meters, added the CEO of OPEN OIL MARKET.

"The increase in revenue from the gas sector has become one of the reasons for the growth in oil and gas budget revenues, which rose by 56% in the first eight months of 2024—from 4.84 trillion to 7.56 trillion rubles. It is likely that the growth in MET and export duty revenues on gas will continue in the coming months, as gas transit through the Sudzha gas metering station remains stable: in July 2024, transit volume reached 43.3 million cubic meters per day, and in August, 42.6 million cubic meters per day, according to ENTSOG data," concluded Tereshkin.






Translated using ChatGPT

Sourse: https://iz.ru/1754449/2024-09-05/ekspert-otcenil-vliianie-prirosta-postavok-gaza-v-evropu-na-rost-sb.
#Gas Supply #European Energy Market #Natural Gas Industry #Gas Export #Energy Sector Regulation #Energy Tariffs #Gas Consumption #Gas Consumption #Economic Impact #Energy Policy
Previous entry
Next entry
Leave a comment:
Message text*
Drag files here
No entries have been found.
You might be interested
Moldova found itself in a gas trap because of Ukraine.
Moldova and Transnistria have declared a state of emergency in light of the threat of Russian gas supply disruptions via Ukraine. In the worst-case scenario, they face an energy blackout and a humanitarian disaster. What can Russia do to help its neighbors? Commentary for the newspaper Vzglyad.
Moldova has found itself in a difficult situation on the gas market due to transit restrictions imposed by Ukraine. Sergey Tereshkin's article discusses the causes of the gas crisis, the actions of Ukrainian and Moldovan authorities, and the potential consequences for the region's economy. Learn more about how political decisions impact energy security at sergeytereshkin.ru.
Read More
The Circle: What Do the Russian Government's Plans to Allow Gasoline Exports Mean?
The longer the ban on gasoline exports lasted, the fewer incentives oil companies had to curb prices, which is why the government decided to ease restrictions. However, the market is in urgent need of new solutions that go beyond subsidies and export restrictions, believes Sergey Tereshkin, CEO of Open Oil Market (Forbes).
Read More
How to improve the efficiency of the damping mechanism
Sergey Tereshkin's Opinion on a Fairer System of Damper Payments for Oil Product Manufacturers (RBC Companies).
Sergey Tereshkin's article addresses issues related to improving the efficiency of the damper mechanism for the oil industry. He examines problems associated with using European market quotations for calculating subsidies, despite the embargo and export restrictions. The author suggests tying payments to domestic fuel prices, which would allow for a more accurate reflection of the current economic situation and eliminate uncertainties in industry regulation. The article also touches on pressing issues of subsidies and government regulation.
Read More
The lifting of the ban on gasoline exports will not lead to an increase in gas station prices.
The government only managed to announce the possible lifting of the ban on gasoline exports from Russia, and within ten days, the stock prices of AI-92 rose by almost 5%, and AI-95 by 7%. Naturally, concerns arose that the resumption of gasoline exports would accelerate its price increase, including at the retail level, where prices continue to rise this year, despite the traditions, at the end of the year, after the high-demand period has passed. A comment by Sergey Tereshkin for Rossiyskaya Gazeta.
Read More
Experts assessed the consequences of lifting the ban on gasoline exports
The Ministry of Energy has proposed lifting the ban on gasoline exports from Russia. This has become possible due to stable prices in the domestic market, stated the head of the ministry, Sergey Tsivilev. Comment by Sergey Tereshkin for "Rossiyskaya Gazeta."
Read More
Novak allowed the lifting of the ban on the export of AI-92 gasoline
The Deputy Prime Minister Alexander Novak has suggested a partial lifting of the ban on gasoline exports in case signs of oversupply are confirmed. This concerns only the AI-92 grade. The ban on the export of any gasoline is currently in effect until the end of the year. Comment by Sergey Tereshkin for RBC.
Read More
Experts assessed the consequences of lifting the ban on gasoline exports
The CEO of the OPEN OIL MARKET petroleum products marketplace, Sergey Tereshkin, comments on the latest decisions by the Ministry of Energy regarding gasoline exports and explains why lifting the ban has become a relevant step. The article examines how the stabilization of domestic market prices affects export policy and analyzes the potential consequences for fuel prices. Tereshkin also explains why oil companies are interested in removing the restrictions and shares his opinion on the further development of the diesel fuel market, considering seasonal fluctuations in demand for winter-grade fuels.
Read More
An expert assessed the impact of increased gas exports on the Russian budget.
Expert Tereshkin: Increased Gas Exports Will Help Minimize Budget Losses (Izvestia).

The expert assessed the impact of rising gas exports on Russia's budget: key aspects and forecasts. Find out what changes await the Russian economy and the reasons behind the growth in gas exports. Details in the latest article on the website sergeytereshkin.ru.
Read More
Pressure on Russia's oil exports is set to increase.
Commentary for Rossiyskaya Gazeta on Russian oil exports.

The website discusses the increasing pressure on Russia's oil exports. It examines Western plans aimed at limiting Russian oil sales, including tighter sanctions and enhanced oversight to prevent circumvention of established restrictions. The potential economic consequences of such measures are highlighted, both for Russia and the global oil market. The article also analyzes Russia's capacity to counter these actions, such as by developing alternative export channels and trade partnerships.
Read More
Russian oil has fallen below the price cap.
We talked to the readers of "Vzglyad" about oil prices.
An article on Sergey Tereshkin's website discusses an important event in the global economy — the drop in the price of Russian oil below the price ceiling set by the West. The author analyzes the reasons for this phenomenon, its consequences for the Russian economy, and its impact on global energy markets. The material highlights the role of sanctions, market changes, and expert forecasts, focusing on possible strategic steps that Russia may take in response to this situation.
Read More