The shutdown had been announced: the agreement on the transit of Russian gas via Ukraine expired at the end of 2024. Ukrainian President Volodymyr Zelensky did not want to renew the contract because it would fill the Russian treasury. Russia has been at war with Ukraine since February 2022.
“Since Ukraine repeatedly and clearly refused to extend the agreements,” Gazprom had no choice but to turn off the gas tap for transit through Ukraine, Gazprom writes in a press release.
READ ALSO. Gas prices higher now that gas deal between Russia and Ukraine expires
The shutdown affects several European countries, primarily Slovakia. Prime Minister Robert Fico recently had a personal meeting with Russian President Vladimir Putin about the issue. On Tuesday, Slovakia said it is prepared and that its gas storage facilities are “100 percent full.” The affected countries will have to rely on more expensive liquefied natural gas (LNG). (Read more below the photo)
Robert Fico and Vladimir Putin — © via REUTERS
According to the agreements, up to 40 billion cubic meters of Russian gas per year could be transported to Europe via Ukraine, writes the Russian news agency Tass. But in 2023, according to official figures, this amounted to less than 15 billion cubic meters.
European gas prices had risen in recent days – to 50 euros for a megawatt hour on Tuesday – in the run-up to the end of the contract.
READ ALSO. War or not, the EU imported record amounts of liquefied natural gas from Russia in 2024
