Russian gas sales on Gazprom Export’s ESP hit record daily high

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Russian gas sales on Gazprom Export’s Electronic Sales Platform (ESP) hit a new daily record high on Thursday, with a total of 477 million cbm of gas sold.

Sales on the ESP have soared since the start of 2020 as Gazprom looks to offer out significant volumes to make up for the small sales in December, which were affected by uncertainty over the future of Russian gas transit via Ukraine, according to S&P Global.

Gazprom and Ukraine’s Naftogaz signed a new five-year Ukrainian gas transit agreement on December 30, easing concerns of significant disruption to flows, with the Russian company agreeing to transit 65 Bcm via Ukraine in 2020.

The ESP sales Thursday were the highest since July 10, 2019, when Gazprom Export sold 406 million cbm.

Sales have averaged 225 million cbm/day so far in January, easily the highest monthly average since the ESP started operations in September 2018.

The previous monthly high was an average of 121 million cbm/d in July last year.

Total volumes sold so far this year are already 1.35 Bcm – almost double the total sales in December of 789 million cbm.

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