Ukraine will no longer transport Russian gas to Europe after 2024, when the current contract expires.
This statement was made in an interview with Radio Svoboda by Oleksiy Chernyshov, Chairman of the Board of Directors of Naftogaz Ukraina, noting that the company was already ready to give up transit, especially considering that Russia failed to fulfill the terms of the contract. As he noted, transit is currently continuing “solely in support of our European colleagues.”
– There are no other reasons, but today we cannot deprive some countries of the European Union, which, by the way, are our partners, of the opportunity to receive blue fuel and prepare for winter. We must be a reliable partner for our European allies, for the countries that need it. But this agreement will expire at the end of 2024 and we do not plan to renew it… The agreement will expire and transit will be suspended, Chernyshov said.
He also noted that the EU does not insist on the continuation of Ukrainian transit, as it plans to completely stop the consumption of Russian gas by 2027.
– I have personally conducted negotiations on this issue in the European Union, in the European Commission, with the relevant leaders. We are not receiving signals from Naftohaz or Ukraine about the continuation of this transit, Chernyshov said.
Russian gas
Currently, 35 to 37 million cubic meters of gas are transported through Ukraine from the Russian Federation to Europe every day, or about 13 billion cubic meters per year. The current transit agreement between Ukraine and Russia expires in December 2024. The main buyers of this gas under long-term contracts are Italy, Austria and Slovakia.
In August 2023, it was reported that Ukraine was preparing to survive the winter without the transit of Russian gas. The Ukrainian gas transportation system (GTS) and underground gas storage facilities (SGS) are ready for use in the event of a complete cessation of the transit of Russian gas through the country. Even under conditions of Russian shelling of gas facilities, Ukraine will still be able to ensure stable operation of the GTS.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
