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Russia is interested in resuming gas transport through Ukraine to Europe Economy news

manhattantribune.com by manhattantribune.com
28 January 2025
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Russia is interested in resuming gas transport through Ukraine to Europe Economy news
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The Kremlin said today, Tuesday, that Russia is interested in resuming gas pumping through Ukraine, after the European Commission issued a statement saying it intends to continue talks with Kiev on natural gas supplies to Europe.

Russian gas supplies were stopped via Ukraine on January 1 after the end of an agreement to transport it and Kiev refused to discuss its renewal due to the continued Moscow war on it.

Slovakia and Hungary have since been trying to pressure the European Union to intervene to resume the supply of gas to them through a major pipeline that passes through Ukraine.

Hungary said on Monday that it had received guarantees from the European Commission to protect its energy supplies, which it described as a prerequisite for Budapest’s approval to renew European sanctions on Russia.

“It seems that Hungary has received some assurances from Brussels regarding the resumption of a negotiation operation (with Ukraine on gas),” Kremlin spokesman Dmitry Peskov told reporters today.

“If there are buyers, this is a trade, and Russia is interested in continuing this trade. We are interested in selling our products not only because they are more competitive compared to American liquefied gas, but because they are more useful for European buyers,” Peskov added.

Slovakia welcomed the European Commission’s statement regarding the continuation of the talks with Ukraine on the potential renewal of the gas transport agreement, adding that it now believes that the option to charge gas from Azerbaijan is now proposed.

The European Union and Ukraine had asked Azerbaijan to facilitate talks with Russia on the transportation of gas last year, but these talks were not successful.

Meanwhile, Russia continues to export natural gas to southern and central Europe through the gas pipeline (Turk Stream) extending under the Black Sea.

Alexander Novak: Russia is ready to supply Europe with gas through several (European) roads

Increase Russian gas exports

And at the end of last month, Alexander Novak, Deputy Prime Minister and Minister of Energy, said that the total number of Russian gas exports to European countries increased by 18% and 20% in 2024 compared to 2023.

Novak stated that gas supplies through pipelines and liquefied natural gas exceeded 50 billion cubic meters from January to November.

“Despite all the statements and pressure pressures, the gas is a very environmentally friendly producer, and it is highly required. Russian gas is the best in terms of value for money, whether the logistical side or the price.”

The rise came from a very low level in 2023, when Russian gas supplies via pipelines to Europe fell 55.6% to 28.3 billion cubic meters with Moscow’s relations with the West sharply due to the conflict in Ukraine.

It is expected that the supplies rose to about 32 billion cubic meters in 2024, according to Reuters accounts based on the daily exports of Gazprom and statistics from European gas pipelines operators.

Until the end of last year, about half of the Russian gas was flowing to Europe via Ukraine, while the rest is supplied through the Turkish Stream pipeline.

Novak repeated at the time that Russia is ready to supply Europe with gas in several ways, and that Ukraine and Europe should agree on the issue of transporting Russian gas.

The European Union does not have ready plans to stop the purchase of liquefied natural gas from Russia, but the bloc said that it will try to dispense with Russian gas by 2027 on the basis of expecting high exports from Norway, the United States and Qatar.

Tags: economyEuropegasinterestedNewsResumingRussiatransportUkraine
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