The Mitte Combined Heat and Power (CHP) natural gas power plant, operated by Vattenfall AB, in Berlin, Germany, on Wednesday, Jan. 1, 2025.
Bloomberg | Bloomberg | Getty Images
Ukraine halted the flow of Russian gas to several European countries on New Year’s Day, bringing an end to Moscow’s decades-long dominance over Europe’s energy markets.
Russia’s state-owned energy giant Gazprom confirmed gas exports to Europe via Ukraine stopped at around 8 a.m. local time (5 a.m. London time) on Wednesday.
The widely expected move marks the end of a five-year transit agreement between Russia and Ukraine, with neither side willing to strike a new deal amid the ongoing war.
Ukrainian President Volodymyr Zelenskyy said last month that Kyiv was not prepared to prolong the transit of Russian gas, adding: “We will not give the possibility of additional billions to be earned on our blood.”
Russia, which has transported gas to Europe via Ukrainian pipelines since 1991, says European Union countries will suffer the most from the supply shift. Moscow can still send gas via the TurkStream pipeline, which links Russia with Hungary, Serbia and Turkey.
Ukraine will lose up to $1 billion a year in transit fees from Russia due to the stoppage, according to Reuters, while Gazprom is poised to lose close to $5 billion in gas sales.
The European Commission, the EU’s executive arm, said it had been working with EU member states most impacted by the end of the gas transit agreement to ensure the entire 27-nation bloc was prepared for such a scenario.
Slovakia, Austria and Moldova are among the countries most at risk from the stoppage. They were most dependent on transit volumes of Russian gas in 2023, according to Rystad Energy, with Slovakia importing roughly 3.2 billion cubic meters that year, Austria receiving 5.7 billion cubic meters and Moldova getting 2 billion cubic meters.
In this pool photograph distributed by Russian state agency Sputnik, Russia’s President Vladimir Putin (R) shakes hands with Slovakia’s Prime Minister Robert Fico (L) prior to their talks in Moscow on December 22, 2024.
Gavriil Grigorov | Afp | Getty Images
Austria has insisted it is well prepared for the stoppage, but others were much more concerned.
Slovakia’s Prime Minister Robert Fico warned that Ukraine’s termination of the gas transit agreement would have a “drastic” impact on the EU, without harming Russia.
Fico also threatened to cut electricity supplies to neighboring Ukraine. The prime minister, a vocal critic of the EU’s support for Ukraine in the ongoing war, made a surprise visit to Moscow for talks with Russian President Vladimir Putin shortly before Christmas.
Moldova, which is not a member of the EU, declared a 60-day state of emergency last month over energy security fears.
A total of 56 lawmakers of Moldova’s 101-seat parliament voted in favor of a nationwide state of emergency, which the government said at the time would allow the country to apply a series of measures to prevent and mitigate the threat of insufficient energy resources.
‘A historic event’
Ukrainian Energy Minister Herman Galushchenko described the cessation of Russian gas flows via Ukraine as a “historic event.”
“Russia is losing markets, it will suffer financial losses,” Galushchenko said via Telegram on Jan. 1, according to a Google translation.
“Europe has already decided to abandon Russian gas. And the European initiative Repower EU provides for exactly what Ukraine has done today,” he added.
Separately, Polish Foreign Minister Radek Sikorski hailed the development as a political victory, accusing Russia’s Putin of having tried to “blackmail Eastern Europe with the threat of cutting off gas supplies.”
Steam clouds from the OMV refinery plant rise into the morning sky in Vienna’s suburban town of Schwechat, Austria on November 18, 2024.
Joe Klamar | Afp | Getty Images
The latest data compiled by industry group Gas Infrastructure Europe shows the EU’s gas storage facilities are around 73% full. In Germany, Europe’s biggest economy and largest gas consumer, inventories are currently at nearly 80%.
“Without Azerbaijan or another third party transiting the gas following a swap deal with Russia, the EU will require about 7.2 [billion cubic meters] of gas to be sourced from the LNG market,” Christoph Halser, gas and LNG analyst at Rystad Energy, said in a research note.
“Terminals in Poland, Germany, Lithuania and Italy could forward these volumes to the most affected counties, such as Slovakia and Austria.”
Europe’s energy security
Henning Gloystein, practice head of energy, climate and resources team at Eurasia Group, said Ukraine’s decision to halt the flow of Russian gas to the EU is no surprise given that both Kyiv and Moscow have long said they would not be willing to renew a deal under current war conditions.
In a research note, Gloystein said the expiry of the deal does not threaten EU winter energy security, citing steps taken by EU importers to prepare for the cut in supply and the mild winter weather seen across most of Europe.
The front-month gas price at the Dutch TTF hub, a European benchmark for natural gas trading, was last seen up 1.2% at 49.49 euros ($51.1) per megawatt-hour on Thursday, according to New York’s Intercontinental Exchange.
Eurasia Group’s Gloystein said gas price moves over the coming months would likely hinge on political developments in the Russia-Ukraine war and remaining winter weather conditions.
“On the political front, there are ongoing talks between some EU members (e.g. Slovakia, where many of Ukraine’s pipelines enter the EU), Russia, and Ukraine to find a compromise that may allow for some resumption of supplies. However, there has been no progress during negotiations around the turn of the year,” Gloystein said.
“On the weather front, expectations are currently for above average temperatures for the remainder of Europe’s winter, which implies the impact of the cuts will be limited,” he added.
ADVERTISEMENT:
Hello, sobat pencinta slots pernahkah mendengar istilah “slot gaco”? jika belum, siap-siap jatuh cinta dengan program ini. slot gacor merupakan mesin slots yang sering kasih win. Yup, mesin-mesin ini bisa dikatakan adalah andalannya buat bawa pulang cuan. any way, cemana sih
tekniknya jumpain raja lot yang benar? Santuy Bro and Sis, kita beri santai saja di tempat ini
Gaming terbaik saat ini hanya satu di Indonesia yaitu yang menyediakan ROI terbesar
Daftarkanlah hanya di :
Informasi mengenai KING SLOT, Segera Daftar Bersama king selot terbaik dan terpercaya no satu di Indonesia. Boleh mendaftar melalui sini king slot serta memberikan hasil kembali yang paling tinggi saat sekarang ini hanyalah KING SLOT atau Raja slot paling gacor, gilak dan gaco saat sekarang di Indonesia melalui program return tinggi di kingselot serta pg king slot
slot demo gacor
slot demo gacor permainan paling top dan garansi imbal balik hasil besar bersama kdwapp.com
akun demo slot gacor
akun demo slot gacor permainan paling top dan garansi imbal balik hasil besar bersama kdwapp.com
akun slot demo gacor
akun slot demo gacor permainan paling top dan garansi imbal balik hasil besar bersama kdwapp.com
akun demo slot pragmatic
akun demo slot pragmatic permainan paling top dan garansi imbal balik hasil besar bersama kdwapp.com
akun slot demo pragmatic
akun slot demo pragmatic permainan paling top dan garansi imbal balik hasil besar bersama kdwapp.com
akun slot demo
akun slot demo permainan paling top dan garansi imbal balik hasil besar bersama kdwapp.com
akun demo slot
akun demo slot permainan paling top dan garansi imbal balik hasil besar bersama kdwapp.com
slot demo gacor
slot demo gacor permainan paling top dan garansi imbal balik hasil besar bersama jebswagstore.com
akun demo slot gacor
akun demo slot gacor permainan paling top dan garansi imbal balik hasil besar bersama jebswagstore.com
akun slot demo gacor
akun slot demo gacor permainan paling top dan garansi imbal balik hasil besar bersama jebswagstore.com
akun demo slot pragmatic
akun demo slot pragmatic permainan paling top dan garansi imbal balik hasil besar bersama jebswagstore.com
akun slot demo pragmatic
akun slot demo pragmatic permainan paling top dan garansi imbal balik hasil besar bersama jebswagstore.com
akun slot demo
akun slot demo permainan paling top dan garansi imbal balik hasil besar bersama jebswagstore.com
akun demo slot
akun demo slot permainan paling top dan garansi imbal balik hasil besar bersama jebswagstore.com
slot demo gacor
slot demo gacor permainan paling top dan garansi imbal balik hasil besar bersama demoslotgacor.pro
akun demo slot gacor
akun demo slot gacor permainan paling top dan garansi imbal balik hasil besar bersama demoslotgacor.pro
akun slot demo gacor
akun slot demo gacor permainan paling top dan garansi imbal balik hasil besar bersama demoslotgacor.pro
akun demo slot pragmatic
akun demo slot pragmatic permainan paling top dan garansi imbal balik hasil besar bersama demoslotgacor.pro
akun slot demo pragmatic
akun slot demo pragmatic permainan paling top dan garansi imbal balik hasil besar bersama demoslotgacor.pro
akun slot demo
akun slot demo permainan paling top dan garansi imbal balik hasil besar bersama demoslotgacor.pro
akun demo slot
akun demo slot permainan paling top dan garansi imbal balik hasil besar bersama demoslotgacor.pro
slot demo gacor
slot demo gacor permainan paling top dan garansi imbal balik hasil besar bersama situsslotterbaru.net
akun demo slot gacor
akun demo slot gacor permainan paling top dan garansi imbal balik hasil besar bersama situsslotterbaru.net
akun slot demo gacor
akun slot demo gacor permainan paling top dan garansi imbal balik hasil besar bersama situsslotterbaru.net
akun demo slot pragmatic
akun demo slot pragmatic permainan paling top dan garansi imbal balik hasil besar bersama situsslotterbaru.net
akun slot demo pragmatic
akun slot demo pragmatic permainan paling top dan garansi imbal balik hasil besar bersama situsslotterbaru.net
akun slot demo
akun slot demo permainan paling top dan garansi imbal balik hasil besar bersama situsslotterbaru.net
akun demo slot
akun demo slot permainan paling top dan garansi imbal balik hasil besar bersama situsslotterbaru.net
situs slot terbaru
situs slot terbaru permainan paling top dan garansi imbal balik hasil besar bersama situsslotterbaru.net
slot terbaru
slot terbaru permainan paling top dan garansi imbal balik hasil besar bersama situsslotterbaru.net
soda96 permainan paling top dan garansi imbal balik hasil besar bersama soda96.com
sparta88 permainan paling top dan garansi imbal balik hasil besar bersama sparta88.biz
sugesbola88 permainan paling top dan garansi imbal balik hasil besar bersama sugesbola88.org
tektok7777 permainan paling top dan garansi imbal balik hasil besar bersama tektok7777.com
tektok88 permainan paling top dan garansi imbal balik hasil besar bersama tektok88.biz
toinktoto88 permainan paling top dan garansi imbal balik hasil besar bersama toinktoto88.com
tokek888slot permainan paling top dan garansi imbal balik hasil besar bersama tokek888slot.com
topslot888 permainan paling top dan garansi imbal balik hasil besar bersama topslot888.biz
tuanslot888 permainan paling top dan garansi imbal balik hasil besar bersama tuanslot888.club
uang88 permainan paling top dan garansi imbal balik hasil besar bersama uang88.biz
uang8888 permainan paling top dan garansi imbal balik hasil besar bersama uang8888.com
userslot88 permainan paling top dan garansi imbal balik hasil besar bersama userslot88.info
uus88 permainan paling top dan garansi imbal balik hasil besar bersama uus88.biz
waslot88 permainan paling top dan garansi imbal balik hasil besar bersama waslot88.asia
wayantogel88 permainan paling top dan garansi imbal balik hasil besar bersama wayantogel88.com
zona666 permainan paling top dan garansi imbal balik hasil besar bersama zona666.biz
zona88 permainan paling top dan garansi imbal balik hasil besar bersama zona88.biz
slot96 permainan paling top dan garansi imbal balik hasil besar bersama slot96.biz
arjuna69 permainan paling top dan garansi imbal balik hasil besar bersama arjuna69.com
hqtoto88 permainan paling top dan garansi imbal balik hasil besar bersama hqtoto88.com
bangshun88 permainan paling top dan garansi imbal balik hasil besar bersama bangshun88.com
btc999 permainan paling top dan garansi imbal balik hasil besar bersama btc999.org
supraslot888 permainan paling top dan garansi imbal balik hasil besar bersama supraslot888.net
sortoto88 permainan paling top dan garansi imbal balik hasil besar bersama sortoto88.net
logamtoto88 permainan paling top dan garansi imbal balik hasil besar bersama logamtoto88.net
goslot777 permainan paling top dan garansi imbal balik hasil besar bersama goslot777.info
gebyar88 permainan paling top dan garansi imbal balik hasil besar bersama gebyar88.biz
botak88 permainan paling top dan garansi imbal balik hasil besar bersama botak88.biz
ibis88 permainan paling top dan garansi imbal balik hasil besar bersama ibis88.asia
autobot777slot permainan paling top dan garansi imbal balik hasil besar bersama autobot777slot.com
jwmarriott88 permainan paling top dan garansi imbal balik hasil besar bersama jwmarriott88.com
reddoorz88 permainan paling top dan garansi imbal balik hasil besar bersama reddoorz88.com
hotelharris88 permainan paling top dan garansi imbal balik hasil besar bersama hotelharris88.com
novotel88 permainan paling top dan garansi imbal balik hasil besar bersama novotel88.com
orientalplay88 permainan paling top dan garansi imbal balik hasil besar bersama orientalplay88.com
oyo88 permainan paling top dan garansi imbal balik hasil besar bersama oyo88.live
agoda88 permainan paling top dan garansi imbal balik hasil besar bersama agoda88.asia
tiket88 permainan paling top dan garansi imbal balik hasil besar bersama tiket88.asia
santika88 permainan paling top dan garansi imbal balik hasil besar bersama santika88.org
grandaston88 permainan paling top dan garansi imbal balik hasil besar bersama grandaston88.com
booking88 permainan paling top dan garansi imbal balik hasil besar bersama booking88.org
grandmercure88 permainan paling top dan garansi imbal balik hasil besar bersama grandmercure88.com
tripadvisor88 permainan paling top dan garansi imbal balik hasil besar bersama tripadvisor88.com
hotelmulia88 permainan paling top dan garansi imbal balik hasil besar bersama hotelmulia88.com
aryaduta88 permainan paling top dan garansi imbal balik hasil besar bersama aryaduta88.com
shangrila88 permainan paling top dan garansi imbal balik hasil besar bersama shangrila88.com
holidayinn88 permainan paling top dan garansi imbal balik hasil besar bersama holidayinn88.com
antam88 permainan paling top dan garansi imbal balik hasil besar bersama antam88.info
