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In 2012, Nord Stream shipped 11.8 bcm
of gas from Vyborg, Russia, to Greifswald, Germany. According to
Gazprom, this volume was diverted from the "old" export route via
Ukraine and Slovakia.
From Greifswald, Russian gas was
transported by the OPAL pipeline to Brandov at the Czech border and
then by the Gazelle pipeline to Waidhaus at the Czech-German border.
The following table compares the transportation costs at the new
route via the Nord Stream pipeline and the old one via Ukraine.
Russian Gas Exports to Waidhaus,
Germany: Cost Comparison, EUR Million
|
Cost item |
2012 |
2012 |
2020 |
2020 |
|
|
without NS1 |
with NS2 |
without NS1 |
with NS2 |
|
Ukhta-Gryazovets3 |
- |
295 |
- |
295 |
|
Gryazovets-Vyborg4 |
- |
403 |
- |
403 |
|
Fuel gas - CS Portovaya |
- |
18 |
- |
78 |
|
Nord Stream |
- |
621 |
- |
577 |
|
Transit - OPAL |
- |
94 |
- |
220 |
|
Transit - Gazelle |
- |
105 |
- |
245 |
|
Transit - Ukraine |
353 |
- |
793 |
- |
|
Transit - Slovakia5 |
88 |
88 |
315 |
315 |
|
Transit - Czech5 |
126 |
126 |
244 |
55 |
|
Sub-total: |
568 |
1751 |
1352 |
2188 |
|
Fuel gas - Ukraine6 |
(132) |
- |
(300) |
- |
|
TOTAL: |
436 |
1751 |
1052 |
2188 |
|
Gas volume, bcm |
11.8 |
11.8 |
27.5 |
27.5 |
1 Assuming there were no
Nord Stream and its feeding pipelines.
2 A part of gas
transportation expenses associated with Nord Stream and its feeding
pipelines.
3 Depreciation cost of
corresponding segment of the
Ukhta-Torzhok pipeline.
4 Depreciation cost.
5 Ship-or-pay cost based on
the booked capacity of the corresponding year.
6 Revenue from sales of
additional fuel gas for Ukrainian compressor stations.
Sources: Gazprom, EUSTREAM, NET4GAS,
Naftogaz of Ukraine, EEGA.
The case "without NS" assumes that
Nord Stream and its feeding pipelines were not built. Note that the
table considers only depreciation costs at the Russian pipelines
that feed Nord Stream.
In 2012, the Nord Stream route to
Waidhaus was four times more expensive than the old route via
Ukraine. The Nord Stream route will remain more expensive even after
the expiration of ship-or-pay transit contracts of Gazprom with
Slovakian EUSTREAM and Czech NET4GAS.
Mikhail Korchemkin
East European Gas
Analysis
Malvern, PA, USA
June 21, 2013
Reproduction or use of
materials is allowed only with reference to East European Gas
Analysis or www.eegas.com
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