Russia continues gas shipments to Europe despite end of Ukraine transit agreement
Date
12/26/2024 8:42:21 AM
(MENAFN) Russia is prepared to continue its gas exports to Europe via multiple routes, even as the contract for gas transit through Ukraine is set to expire this year, according to Deputy Prime Minister Alexander Novak.
In an interview with state-run Rossiya 24 TV, Novak stated that the future of gas transportation is up to the authorities in Kyiv and the European Union to decide. He emphasized that Russia is ready to keep supplying gas not only through the existing route via Ukraine but also through alternative pathways.
The end of the Ukraine transit contract raises concerns for countries like Slovakia, which relies heavily on Gazprom PJSC for its gas supply, despite much of Europe moving away from Russian piped gas. Ukrainian President Volodymyr Zelenskiy has made it clear that his country will not transit Russian gas unless there are guarantees that the Kremlin will not benefit financially while the war continues.
This situation also coincides with forecasts of colder weather across Europe, which could increase demand for gas as stockpiles are depleted faster than usual. The tight gas market poses a challenge for traders to secure enough supplies for next year, especially as they compete with Asia for seaborne liquefied natural gas (LNG).
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