Daily Energy Report
Trump calls on Saudi to increase oil production, Russian gas exports to EU, US Inventories, India oil imports from Russia, EU power debate, Solar up in EU, Italy nuclear, Saudi mining, and more.
Latest News:
Donald Trump Makes New Demands of Saudi Arabia, OPEC at Davos
And:
Saudi Arabia intends to invest $600 billion in US, crown prince says during call with Trump
Discussion at the end of this report.
Chart of the Day: Russian Piped Gas Exports Back to Growth in 2024
Summary
Since the beginning of 2024, Russia has been delivering gas to Europe via two routes: Ukraine and Turkey. Gazprom's exports to Europe increased by 13% YoY to 31 bcm from 27.3 bcm in 2023, marking the first annual growth since 2021. However, this is still significantly below the 140 bcm exported in 2021. Monthly shipments ranged from 2.4-2.5 bcm in the first half of 2024, increasing to 2.7 bcm in the second half as shown in Figure (1). The Figure shows monthly piped exports to Europe since the start of 2022. The invasion of Ukraine took place in February 2022. The data shows how exports collapsed after the invasion.