The Kremlin: “Press on gas because the EU does not return the turbines.” Prices + 7%. Russia is the number one supplier of oil to China

We have gas ready for export, but Europeans have to Repaired turbine return for Nord Stream tube (The pipeline connecting Russia and Germany with a capacity of 30 billion cubic meters per year, so)So said the Kremlin spokesman Dmitriy Peskov, As reported by Interfax. “The Europeans did not return the turbines from the Nord Stream pipeline after maintenance, and this is the reason for the delay in supplying gas to Europe,” he added. Until today, Gazprom will deliver less gas than Eni has ordered. This can be read on the GME technical platform which constantly provides technical information regarding the supply flows from the power system. Tensions that persist Pay the price of fuel, it is trading today on the Amsterdam Stock Exchange at 126 euros per megawatt-hour, up 7% from last Friday’s close.

Gazprom also decided Don’t book extra space For the shipment of gas to Europe via Ukrainian pipelines for the month of July. it’s a In a sign that supplies from Moscow may remain stagnant for weeks. Germany called the Russian supply cuts “politically motivated” and not due to technical problems, Gazprom said. Gas supply next month may be even lower, as the entire Nord Stream pipeline is expected to be shut down for several days due to maintenance work. The European Commission is exploring the possibility of introducing a Temporary gas price cap. An EU spokesperson said this morning, confirming Brussels’ commitment after the mandate received three weeks ago by the Heads of State and Government of the European Union. In the outcome of the summit on May 30-31, leaders called on Brussels to act internationally for it Evaluate, where appropriate, the feasibility of the measure.

Russia has become China’s largest oil supplier by overtaking Kingdom Saudi Arabia. Emerges from Chinese customs data released today related to the month mayo. Beijing receives crude oil from Moscow at a significant discount to market prices ($112 a barrel today) as Western sanctions “force” Russia to turn to other customers. Last month China bought 8.4 million tons of Russian oil, 28.5% more than in April and 55% more than the previous year. The value of the goods, mostly delivered by ship as well as via the oil pipeline connecting the two countries, is approximately $7.5 billion. (7.1 billion euros). China, likeIndiaMoscow is taking advantage of a particularly advantageous offer from Moscow that sells its oil at $20-30 a barrel cheaper.

After all, prices are still too high (+53% compared to last year) to ensure high profits for the supplier. Russia is the third largest oil producer in the world after the United States and Saudi Arabia with one It has a production capacity of approximately 10 million barrels per day And reserves of 107 billion barrels. China is the second largest consumer of crude oil after the United States, using it almost daily 14 million barrels. Of these, 10 million were purchased from abroad by China’s industry The first importer on the planet. Last week, the Chinese president Xi Jinping Had a phone conversation with the Russian President Russian President Vladimir Putin. According to Xinhua, Xi told Putin that China is “ready to continue mutual support With Russia on issues related to sovereignty, security and issues of great interest.”

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