Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict.
Russian state-owned energy company Gazprom has said that it is continuing to supply natural gas to European customers through Ukraine.
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The supplies are in line with requests from European consumers, Reuters reported citing a company statement.
For 17 April, natural gas requests from the customers totalled 57 million cubic metres. However, the figure represents a fall from 78.3 million cubic metres on 9 April.
The ties between Europe and Russia strained after Moscow launched a military invasion on neighbouring Ukraine.
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Several Western countries imposed sanctions on Russia and committed to reducing energy imports from the country in response to the aggression.
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By GlobalDataRecently, German Chancellor Olaf Scholz said that it aims to end oil imports from Russia by the end of this year.
Before the invasion, Germany’s Russian oil imports accounted nearly 55%.
On the other hand, Gazprom had terminated its participation in its German subsidiary and gas storage facility operator Gazprom Germania.
Meanwhile, oil prices jumped to a nearly three-week high as the ongoing Ukraine crisis fuelled supply concerns.
Brent futures were climbed by $1.09 to $112.79 a barrel, while the US West Texas Intermediate futures increased $1.00 to trade at $107.95 per barrel, Reuters reported.
This comes after the EU governments were reportedly planning to impose to ban Russian crude.
The Russian oil production has also continued to fall this month dropping by nearly 7.5% in the first half of April compared to March figures.
In March, OPEC’s output totalled 28.56 million bpd, representing an increase of 57,000 bpd.
