Gazprom pipelines and export capacity

Газопроводы Газпрома и экспортные мощности

Gas pipelines of West Siberia

Газопроводы Западной Сибири

Export flows of Gazprom

Экспортные потоки

Spot, Gazprom, Brent

Цены на нефть и газ

End-use price of gas

Russia and USA

Daily gas production

Суточная добыча

EEGA in the News - Selected Publications and Forecasts  (click here for publications in Russian)

EU to rule on Russian access to Nord Stream gas pipeline's link to Germany


June 9, 2016. “It would also lower the cost of shipping gas across the Baltic Sea route by some 25 percent, Mikhail Korchemkin of East European Gas Analysis said.

Gazprom: Russia's gas giant in decline

Anadolu Agency

Apr. 15, 2016. “In my view, the best way would be to break Gazprom into a state-run transmission company and a number of private gas producers,” Korchemkin said, adding that such a breakup would also solve the Gazprom-EU conflict over the Third Energy Package while increasing competition in the domestic market.

Gazprom's gas cut risk endanger mkt. position in Turkey

Anadolu Agency

Feb. 29, 2016. Korchemkin said that Gazprom uses gas flow as an important motivation in negotiations with its partners. He cited the example of Gazprom last winter significantly reducing daily exports to Europe with the aim of undermining reverse flows from the EU to Ukraine.

Exclusive: Russia likely to scale down China gas supply plans


Jan. 15, 2016. The parties are likely to postpone the [Power of Siberia] project commissioning into the late 2020s.

Russia's gas giant 'is confronted with the greatest challenge in its history'


Aug. 17, 2015. "I'm not sure Gazprom survives this difficult period," said analyst Korchemkin. "It would be easier for its development if it split into pieces within a couple of years."

Bypassing Ukraine will be costly for Russia's Gazprom: analysts


July 16, 2015. Mikhail Korchemkin, head of East European Gas Analysis consultancy group, said Gazprom spent $43 to ship each 1,000 cubic meters via the Nord Stream last year compared to $33 via Ukraine.

Russia's Gazprom presses on with Turkey pipeline despite questions


June 3, 2015. "The arrival of Azeri gas is sharply reducing Gazprom's chances of extending its own contracts," said Mikhail Korchemkin of East European Gas Analysis. "It is much less expensive to ship gas to Turkey from (Azeri) Shah-Deniz than from (Russian gas fields in) Yamal."

Why Does Putin Care Who Runs a Tiny Balkan Nation? Gas Pipelines


May 22, 2015. “The offshore section of South Stream would have delivered Russian gas to the EU border the very same way as the Turkish Stream pipeline. The only difference is that South Stream was less expensive.”

Exclusive: Russia could postpone gas pipe to China touted by Putin


Mar. 18, 2015. "Linking the Altai pipeline with major gas consumers of China is a huge project. It would require a serious change of the Chinese five-year plan. It is a major obstacle for Gazprom".

Putin’s Ukrainian Power Play

Foreign Policy

Feb. 24, 2015. "Gazprom claims it has changed the terminals to supply gas to the regions of Donetsk and Luhansk. But unilateral change of terminals is not allowed.”

Russian Demand for More Cash Re-Ignites Ukraine Gas Dispute


Feb. 23, 2015. An early spring in Eastern Europe will make it easier to survive on limited rations of Russian gas.

Gazprom Plan to Build Black-Sea Link Alone Ends Lower-Cost Hopes


Jan. 27, 2015. “Gazprom is destroying all hope it would avoid these controversial costs,” Mikhail Korchemkin, the founder of East European Gas Analysis in Malvern, Pennsylvania, said by phone. “Investors hoped it wouldn’t build a huge gas network to Turkey after canceling South Stream, or would share the risks of the new project with partners.”

Traders Delaying Russian Gas Imports Tap Declining EU Stores


Jan. 26, 2015. “The European importers are looking forward to the price below $7.5 to replenish underground storage facilities,” said Korchemkin. “In summer, Russia’s gas exports may reach a new record on a lower price.”

Ukraine Talks Tough on Russian Gas as EU Supplies More Fuel


Jan. 22, 2015. Gazprom’s oil-linked price in Europe is about $300 per 1,000 cubic meters now and may fall below $250 by the middle of the year.

Putin's Pipe Dreams

Foreign Policy

Dec. 2, 2014. He likened South Stream to other oversized but ultimately failed projects that have littered Russian history, including the never-used “Tsar Cannon” and the never-rung “Tsar Bell.” South Stream deserves the name of the “Tsar Pipeline,” he said.

Russia's South Stream pipeline falls victim to Ukraine crisis, energy rout


Dec. 2, 2014. "Decreasing oil-indexed prices for gas and lower sales are likely to drive Gazprom to the red this year," said Mikhail Korchemkin of East European Gas Analysis, forcing the firm to reduce its investment program.

Putin Scraps South Stream Gas Pipeline After EU Pressure


Dec. 1, 2014. “There won’t be any new pipeline to Europe,” said Korchemkin. “That may be not the worst news for the company at the end of the day.”

Putin drops South Stream gas pipeline to EU, courts Turkey


Dec. 1, 2014. "By invading Crimea, Putin has created a major barrier for the South Stream project," said Mikhail Korchemkin, with East European Gas Analysis. "Gazprom was unable to raise money for the project," after the sanctions went into place, he said.

Xi's Just That Into You

Foreign Policy

Nov. 10, 2014. "Russian gas supplied by the western route should be cheaper than gas shipped by the Power of Siberia pipeline. The eastern pipeline delivers gas close to Harbin and other major consuming centers of northeastern China, while the western route crosses the border in the middle of nowhere."

Russia signs second China gas deal, but falling prices raise doubts


Nov. 10, 2014. "The price of Russian gas is linked to that of oil. Since May, the value of the Chinese contract shrank to $300 billion. The low price of oil complicates the price negotiation."

Russia, Ukraine Might Need More Gas Talks to Reach Compromise

RIA Novosti

Oct. 30, 2014. The price is higher than the average price of Gazprom exports, it can be accompanied by a very low take-or-pay limit and by lifting the condition of prepayment.

Success of Russia-Ukraine Gas Deal Depends on EU's Willingness to Pay

The Moscow Times

Oct. 20, 2014. ""But the deal will not ensure safe gas transit to Europe through Ukraine's territory. Moscow may still find a reason to close the valve shut."

Let's Make a Deal

Foreign Policy

Sep. 26, 2014. "After showing a stick to Poland, Gazprom gave a carrot to Hungary for halting the reverse flow to Ukraine."

Ukraine Conflict Forces Eastern States to Stockpile Gas


Sep. 12, 2014. “Only Latvia has enough storage capacity to survive through the winter without Russian gas. Other countries of central and eastern Europe don’t have enough storage capacity.”

Ukraine crisis: Is it Kiev's turn to close the spigot?

CS Monitor

Aug. 11, 2014. "The transit will not be interrupted without a serious reason, such as Russia's invasion of Eastern Ukraine."

Iran Gives Russia Its Best Chance to Hit Back Against Western Sanctions


Aug. 8, 2014. Iran could take Russia’s place as the main European natural gas supplier in the course of a decade if it were allowed to begin investing in pipelines and exporting freely to the West.

EU in for pricier gas as standoff with Russia continues

Monitor Global Outlook

Aug. 8, 2014. "The South Stream pipeline and Eastern Gas Program [into Siberia and China] of Gazprom require over $100 billion. I do not know where Gazprom can find this kind of money without having access to international financing."

Austria and Russia forge deal on South Stream cooperation


June 27, 2014. "OMV is interested in Azerbaijani gas having access to South Stream, since competition between suppliers is always in the interest of the customer."

Gazprom in talks to buy Abu Dhabi's OMV stake


June 26, 2014. "However, there may be a conflict of interests, because Gazprom would be buying gas from itself."

Europe Still Can’t Break Its Addiction to Russian Energy


June 5, 2014. "Russia will remain Europe’s main energy supplier for years to come."

Another Russia-China Energy Deal

Foreign Policy

June 5, 2014. "Europeans would use the low price of gas sold by the Altai pipeline to China to lobby for lower prices of Russian gas."

Gazprom Linking East, West Gas Pipes Seen Economically Unviable


May 28, 2014. "As Putin said, the Kovykta and Chayanda gas fields can supply the Eastern pipeline system for 50 years. Pipelines of West Siberia and European Russia have enough gas for 60 years. There is no need to ship gas from East to West or backward before the 2060s.”

The Deal That Wasn't

Foreign Policy

May 20, 2014. "Gazprom's pipeline construction costs could be cut by about 60% by using Chinese firms. That, in turn, would make it more profitable for Gazprom to ship gas to China."

Russia, China gas deal: The price is wrong. For now.

CS Monitor

May 20, 2014. "Apparently, President Putin is not ready to cut the profits of pipeline contractors of Gazprom yet."



May 20, 2014. "From the commercial standpoint, Europe is the most profitable market for Gazprom. Exports to China can generate a small profit, [and] only if the government makes it free of taxes and duties."

OPINION: New US Sanctions Unlikely to Hurt Russian Gas Sector


Apr. 29, 2014. "The most likely way to impose sanctions on Gazprom is to restrict the company’s ability to borrow money from western banks like it happened with Iraq and Iran".

Baltic states use Ukraine crisis to boost LNG import capacities


Apr. 10, 2014. "If Japan restores its nuclear capacity before the end of this year that would free up the equivalent of 100 million cubic metres of gas a day. A good part of that gas could be diverted to Europe".

EU could survive loss of Russian gas flow through Ukraine


Apr. 7, 2014. The winter season of 2014-15 without Russian gas would be tough as the EU could substitute just about a third of Gazprom supplies in the best case.

Russia sacrifices Gazprom profit for politics in Ukraine: analysts


Apr. 4, 2014. "Ukraine is unable to fill up its gas storage facilities at this price. Without Ukrainian storage gas, Gazprom is unable to fulfil its European export contracts".

Too Much, Too Soon

Foreign Policy

Mar. 27, 2014. "I don't think the IMF should have insisted on an immediate rise in the residential price of natural gas in the first place," said Mikhail Korchemkin, the head of consulting firm East European Gas Analysis.

Billionaire Sought by U.S. Holds Key to Putin Gas Cash


Mar. 23, 2014. Any disclosure that shows Gazprom managers causing losses to U.S. investors, who hold more than half of the company’s depositary receipts, could lead to sanctions, major fines and lawsuits, Korchemkin said.

Worldview: A framework for a response to Putin

The Inquirer

Mar. 23, 2014. "Europe could survive for six to eight months," says Korchemkin, "and Gazprom [Russia's state-controlled gas company, whose profits fuel the Kremlin] could not."

Can Crimea survive without Ukraine's power?

CS Monitor

Mar. 17, 2014. "Offshore development requires significant investment, but Crimea is very likely to be cut off from international financing," Mr. Korchemkin writes in an e-mail. "There will be no money to drill for oil and gas."

Gazprom CEO Threatens Ukraine With Gas Disruptions, But European Union Says It Has Kiev's Back


Mar. 7, 2014. European and Ukrainian officials believe that for Russia, “Gazprom is more valuable than Crimea".

Ukraine increases Russian gas imports, braces for price hike


Mar. 3, 2014. "Vladimir Putin's Crimean plan increases the risk of interruption of transit flows of Russian gas through Ukraine. Russian gas supplies via Ukraine can stop any day".

Gazprom May be Seriously Hurt by the Crimean Conflict


Mar. 2, 2014. Vladimir Putin has a choice between withdrawing from Crimea and seriously hurting or even bankrupting Gazprom. I think, for Russia's president Gazprom is a way more important.

For Russia, a weaker energy hand to play in Ukraine


Mar. 2, 2014. "I don’t think Gazprom would want to play this game until the next winter. They would be in the red because the company will be losing money without that revenue".

Analysis: Gazprom says flexible pricing behind record exports to EU


Jan. 22, 2014. "First, Gazprom gave a lot of substantial retroactive price discounts. Second, European clients took several billions cubic meters of makeup gas – take-or-pay gas paid for but not delivered in previous years. The volume of makeup gas can be estimated at about 10bcm. Third, combined reverse flow from Poland and Hungary to Ukraine increased the Russian export volume by 2.1bcm."

Ukraine protests increase risks of currency crisis


Dec. 2, 2013. "Good relations between Russia and Ukraine would have killed South Stream - the pet project of Vladimir Putin."

South Stream pipeline to spur on Balkan reliance on Russian gas


Nov. 22, 2013. "Gazprom welcomes any additional volume of gas sold in Europe," said Mikhail Korchemkin, executive director of Pennsylvania-based consultancy East European Gas Analysis. "The Russian gas giant needs to replace its expiring contracts."

Price of Gazprom gas for China not to be linked to Henry Hub index


Sep. 9, 2013. For the project to break even (at a 30-per-cent duty and annual exports of 38 billion cubic metres), the gas price on the Chinese border should be over $500.

How Gazprom's $1 trillion dream has fallen apart


June 28, 2013. "The mega-projects will guarantee rapid growth in costs, while future revenues are absolutely uncertain," said Mikhail Korchemkin of consultancy East European Gas Analysis.

Russia, Japan draw a blank on energy during Abe visit


Apr. 29, 2013. The long and expensive supply route of the Vladivostok LNG plant may raise the cost of Russian gas above the level of price expected by Japan.

Join the dots


Feb. 27, 2013. Gazprom will be unable to reduce the price of gas delivered to the European border. It will be doomed to sell gas at the highest prices in Europe.

Gazprom Sends $7 Billion Bill to Naftogaz as Gas Dispute Deepens


Jan. 27, 2013. Interruption of Russian gas flow to Ukraine is unlikely, though Europeans should pray for a warm February. Just in case.

Energy Delta Institute interview

Energy Delta Institute

Jan. 6, 2013. Interview at the 1st Eurasia Dialogue in Moscow, Russia.

Gazprom Facing Challenges at Home and Abroad

The Moscow Times

Dec. 26, 2012. Gazprom will probably be carved up into several smaller companies around the time of the 2018 presidential election.

South Stream: construction starts

Dec. 7, 2012. Gazprom has abandoned its guiding principle – sell gas before building expensive infrastructure.

South Stream could be the straw that breaks the camel's back

RBC News

November 16, 2012. South Stream could be the straw that breaks the camel's back.

Shale surge poses threat to Gazprom

Nov. 12, 2012. Gazprom could reach a time when it’s permanently in the red and that’s when we expect a break-up of Gazprom.

Rotenberg defends his rising fortune

Nov. 12, 2012. The cheapest of the two Russian branches of the North Stream gas pipeline, which was built by Mr Rotenberg’s Stroigazmontazh, costs €3.5m per kilometre compared with the overland part of the same pipeline in Germany built by OPAL, the German group, which cost €2.1m per km.

Rosneft to Replace Gazprom as Putin Energy Driver After TNK Deal


Oct. 18, 2012. In the last decade, Gazprom was transformed from the milk-cow of the state budget to the cash-cow of contractors and intermediaries.

Gazprom expands Nord Stream without gas supply rise


Oct. 8, 2012. The only one useful Nord Stream expansion, both for Gazprom and the EU, would be extending it to the UK.

Russia Lashes Out Over Probe of Gas Giant

The Wall Street Journal

Sep. 11, 2012. It's a way to remind the EC it is dealing with the Russian Federation, with President Putin.

Russia Denounces Gazprom Probe

The Wall Street Journal

Sep. 5, 2012. Gazprom may be forced to break the relationship with oil in the gas-price formula, and the difference between the price of Russian gas and spot prices will narrow.

Gazprom squeezed at home and abroad


June 21, 2012. If Gazprom adopts a "rational gas pricing policy", both at home and internationally, its gas production would expand.

Gazprom: No More Business as Usual

Natural Gas Europe

June 11, 2012. The pipeline construction plans of Gazprom belonged to the old reality of the global shortage of gas and a price of $1000 per thousand cubic meters (close to $30/MmBTU).

Natural Gas is the Least Taxed Hydrocarbon in Russia

Natural Gas Europe

May 3, 2012. The gradual increase of the gas severance tax rate will be more than compensated by the planned growth of the price of gas for Russian consumers.

Is Russia Dumping Gas?

Natural Gas Europe

Apr. 23, 2012. The low end-use price of natural gas in Russia is a myth. In January 2012, the average price of natural gas used by the US power plants has reached parity with the price paid by major power plants in Russia.

Can Shale Gas Beat Russian Gas in Europe?

Natural Gas Europe

Apr. 11, 2012. The answer is yes, according to Mikhail Korchemkin, unless Russian Gazprom giant scraps its pipelines program.

Three Russian companies bid for Greece's gas assets


Apr. 3, 2012. Mikhail Korchemkin <..> expressed doubts that either Sintez or Energiya would help Gazprom obtain the deal, as these companies are too obviously in favour of Gazprom, which sells its gas at a price that is "far from being the more competitive on the market".

Russia threatens Ukraine over gas

Feb. 24, 2012. Bottlenecks in Gazprom’s complicated gas distribution and storage network caused the supply shortfall in Europe. Gazprom’s decision to reduce Central Asian gas imports had not helped leading to a shortage of gas in peak periods.

European cold snap tests Gazprom's reach


Feb. 19, 2012. The high prices of Russian gas did not guarantee the security of supply.

Russian gas supply falls further, EU says no crisis


Feb. 3, 2012. Gazprom has made a strategic mistake by abandoning its gas storage expansion program for 2005-2010. Combined with the sharp reduction of imports of Turkmen gas, it has created a winter-time deficit of gas ... needed in Ukraine and Europe.

Large gas volumes from Caspian region to Europe are inevitable


Feb. 3, 2012. The production and delivery of gas from Shah Deniz [Azerbaijan] and Galkynysh [Turkmenistan] fields to Europe requires less costs than the gas from Yamal.

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