MOSCOW, August 17. /TASS/. Russian pipeline gas deliveries to Europe may reach a new historical low in August, according to a report from the Energy Development Center published on Wednesday.
"Russian pipeline gas supplies to Europe will fall to a new historical low in August. Gazprom's output may slip below 400 bln cubic meters for the first time by the end of the year," the report said.
Gazprom's gas deliveries to the EU totaled roughly 3.5 bln cubic meters in July, down from 25% in June, but the holding's revenue from these supplies increased, according to analysts. Gas prices in Europe climbed by 60% in the same month compared to June.
According to the report, in order to compensate for a new decline in Nord Stream supplies, the price should rise by around 25% in August, but the Center's experts believe such an increase is unlikely because current gas prices are already critically high for European industry, "and further growth will only lead to a decline in EU consumption."
At the same time, analysts noted that the decrease in Nord Stream supplies to about 33 mln cubic meters per day did not result in a decrease in the rate of filling European underground gas storage facilities. As a result, Germany will be able to reach its goal of filling underground gas storage facilities by 95% before the heating season as early as this month if the current rate of filling is maintained.
TASS reported earlier citing data from Gas Infrastructure Europe that the level of gas reserves in European UGS facilities surpassed 75%.