Gas exports from Ukraine fell to a six-month low – up to 1.4 mcm

Natural gas exports from Ukraine fell to a six-month low – up to 1.4 mcm on February 02, 2022, according to the GTSOU operative data.

Compared to the previous day (February 1), exports decreased by 32%, and compared to the last day of January, exports fell by almost 5 times (from 6.6 mcm).

Exports work in two directions - half of the gas is routed to Hungary - 0.7 mcm, the rest (also 0.7 mcm) - to Romania. There are no deliveries in other directions.

According to ExPro, gas is exported by several international traders from the "customs warehouse" of Ukrainian underground storage facilities.

This trend (less export) is expected to continue, as the customs bonded warehouse of the Ukainian underground gas storages (where the main volumes of exports came from) was about 0.6 bcm (both non-resident and resident companies). In addition, the situation was further stabilizing, when gas in Ukraine is more expensive than in Europe (unlike last year), which makes exports of natural gas to Europe economically unviable.

Gas exports from Ukraine halved in January 2022, down to 164 mcm. Compared to January 2021, exports of natural gas from Ukraine fell by 30%. Traditionally, almost 156 mcm, or 95% of all Ukrainian natural gas exports was to Hungary, although by 2% less than in December 2021. In addition, 8.6 mcm were exported to Romania at stable daily transmissions of 0.3 mcm.

In 2021, more than 2.5 bcm of natural gas were exported from Ukraine, 7 times more than last year.