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Ukraine Unlikely to Renew Russia Transit Gas: Energy Minister

NATURAL GAS

Russia may halt natural gas transport through Ukraine to Europe at the end of 2024 with a transit contract renewal unlikely said Ukraine’s Energy Minister German Galushchenko according to the Financial Times.

  • Ukraine is preparing its system for a halt with a renewal unlikely due to the ongoing war he said.
  • Efet's gas committee chair Doug Wood this week said, “there was a huge financial impact because transit revenues are a very important contributor to the Ukrainian economy, but that has largely gone now."
  • Earlier this month German Economy Minister Robert Habeck warned of industry wind down if Russian gas stops flowing through Ukraine when the existing transit agreement expires in Dec 2024. German supply could come under pressure due to rules on sharing gas in the event of potential gas shortages with countries including Austria, Slovakia and Hungary still reliant on the Russian supply.
Energy BulletsCommodities
Energy BulletsCommodities

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