The planned closure of the Nordstream gas pipeline, which connects Germany to Russia, raises the price of the raw material amid fears of a final infrastructure cut
The start of the week puts a lot of pressure on the price of gas in the international market due to the planned closure of the Nordstream gas pipeline – the one connecting Russia to Germany – due to tensions arising in Europe over the possibility that this gas pipeline will be closed. contingency assumes a final bout. July 21 is the estimated date for the reopening of activity in this important infrastructure. But it’s not clear whether Vladimir Putin’s government will support the mid-summer shutdown. For this reason, gas is currently traded on the international market at approximately EUR 175/MWh.
This is the highest gas price since the high recorded in early March, when all markets were under significant pressure in the early days of the Russian invasion of Ukraine. At that time, on March 8, it was 200 euros/MWh. Since then, the price has fallen until mid-June. Although it has recovered in the past month and has doubled its price, from 80 euros/MWh to more than 170 euros today.
Meanwhile, gas imports from Algeria decreased by 41% in the first half of 2022 compared to the same period of the previous year, while purchases of this raw material from Russia increased by 3.2% year-on-year in the first half of the year. . six months of the year, according to the latest data from the Enagás Statistical Bulletin and corresponding to June.
Specifically, in the first half of the year, Spain bought 55,962 gigawatt hours (GWh) of gas from Algeria, of which 51,484 GWh (92%) via pipe (Medgaz) and the rest in methane tankers in the form of natural gas. liquefied (LNG). These figures represent a 40% decrease in Algerian gas arriving in Spain via a gas pipeline compared to the first half of 2021.
The weight loss of purchases from the African country is also noted in the collected data, as they accounted for 47.7% of the total imports of this fuel in the first half of 2021, while they decreased in the first six months of 2022. to 24.7%.
In the case of Russia, despite the geopolitical situation resulting from the invasion of Ukraine, Spain bought record numbers of 8,752 GWh of gas from this country in June, compared to 6,587 GWh in the same month of 2021, or about 3,000 GWh per month it reached had acquired so far in 2022.
For example, 24.4% of the 35,890 GWh of gas that Spain imported in the sixth month of the year came from Russia, making it the second national supplier of this raw material after the United States.
Despite the geopolitical situation resulting from the invasion of Ukraine, Spain bought 8,752 GWh of gas from this country in June, compared to 6,587 GWh in the same month of 2021. This is a 32.9% increase year-on-year.
In the cumulative figure for the first half of 2022, Russian gas imports amounted to 22,948 GWh, which is 3.2% more than the 22,236 GWh in the first half of 2021. In that sense, in the first six months of 2022, the weight of purchases was from Russia accounted for 10.1% of the total, compared to 11.2% in the same period of 2021.
On the other hand, the US has established itself as the main supplier of gas to Spain, as 29.6% of June imports, with 10,618 GWh, and 34.4% of purchases in the first half (78,078 GWh) came from was from the North American country.
The aggregated figures for the first half indicate that US gas imports have multiplied by 4.3, from 18,184 GWh in the first half of 2021 to 78,078 GWh between January and June 2022.
Similarly, the 10,618 GWh of gas imported from the US in June 2022 represents an increase of 764.65% compared to the 1,228 GWh purchased in the same month last year, that is, they were multiplied by more than eight.
In addition to the US, Algeria and Russia, Nigeria also stands out as one of the main gas suppliers for Spain, as in the first half of the year 14% of the imports of this raw material came from this country.
June also noted the significant increase in vessel unloading, which increased by 52.4% compared to the same month last year, yielding a total of 27,595 GWh for Spain’s regasification plants, compared to 18,106 GWh in the same month. month 2021 .
For example, the number of ships unloaded in Spain in June grew by 38.1% to 29, eight more than in the same month last year.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
