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Ukraine Rules Out Russian Gas Transit to Europe

NATURAL GAS

Ukraine’s top Energy Minister has ruled out any commercial agreements to allow Russian gas to flow through the country after the current agreement expires this year, according to Bloomberg.

  • “I don’t see the possibility,” Energy Minister German Galushchenko told the IEAEA. “There are not any possible solutions on the table.”
  • “If someone said that it’s a critical issue for survival during the winter, that it is an issue of security of supply, that’s one situation,” he added. “But I don’t see this situation.”
  • Before Russia’s invasion of Ukraine, Gazprom exported around 177 bcm/y to Europe via several pipelines.
  • Amid closure of other pipelines, such as Nord Stream, the Ukraine route now constitutes 30% of Gazprom’s regional exports and around 50% of flows to Europe - around 40 mcm/d.

Source: S&P Global Commodity Insights

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