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


Nord Stream Transportation Cost for Dummies


There is a simple way to get a very quick estimation of the Nord Stream transportation cost in US dollars per million British thermal units (MMBtu).

  1. Page 32 of the most recent financial report of Gazprom for the period of January-September 2015 gives the cost of transit services purchased from Nord Stream AG as Rub 54,099 million or $917 million (at the average exchange rate of Rub 59.02 per $1.00).

  2. Actual volume shipped in January-September can be found at the websites of ENTSOG or OPAL and NEL For a quick estimation, one can use the reported full capacity of Nord Stream of 537 billion kWh per year. In 2015, the pipeline was used at about 75 percent of capacity.

    537 x 0.75 = 402.75 Bn kWh or about 400 TWh

    Nord Stream supplies base-load gas, so in nine months it shipped about 75% of the annual flow or some 300 TWh.

  3. Convert 300 TWh (Tera Watt-hours) to 1024 Tera Btu's (or millions of MMBtu).

  4. Divide $917 million by 1024 millions of MMBtu
    $917M / 1024 TBtu = $0.9/MMBtu

This is very close to $0.92/MMBtu calculated for the actual flow.

Mikhail Korchemkin

East European Gas Analysis

Malvern, PA, USA

 

March 21, 2016

 

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