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Ukraine Likely to Halt Russian Gas Transit to Europe Beyond Dec2024


Ukraine does not plan to transit Russian natural gas to Europe beyond Dec 2024 according to ICIS citing Naftogaz Ukraine. Russia's five-year transit deal with Ukraine signed at the end of 2019 expires in December 2024

  • Transit flows reduced to around 20 bcm/y in 2022 and look similar in 2023 according to ICIS. The flow has already fallen in recent years to around 5% of European gas demand and will help to limit the impact of a halt.
  • The halt to Ukraine transit flows will lead to a more exposed role for Germany as a hub for Norway gas and LNG to supply Central Europe.

Data source: ICIS / CGEP based on Naftogaz Ukraine

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