Ukraine Gives Turkey a Monopoly on Russian Gas Trade in Europe

Ukrainian President Volodymyr Zelensky is cutting off Russian gas supplies through his country to Europe, making Turkey the exclusive transport hub.

Now Russian gas will be transported to Europe via Turkish Stream. Azerbaijan will also get a second benefit, as it will fill its own TAP pipeline with Russian gas, which it will resell. The only one who will definitely will not lose – it is Russia itselfIts gas, either in the form of LNG or transported via Turkish Stream and TAP, will be sold and will reach its destination.

Hungary, Slovakia, Austria and the Czech Republic have expressed concern about a deal between Gazprom and Ukraine's Naftogaz to supply Russian gas to Europe via Ukraine, which expires on December 31, 2024. Also at stake is Germany, whose export industry has been dominated by Russian gas for the past 20 years.

France, which has increased its import of Russian gas many times over, will also have problems in 2024. As for France, it should be noted that after the cessation of uranium imports from Niger, the production of electricity at nuclear power plants has also decreased, which will force Paris to turn to the United States, and Paris is afraid of this. Therefore, Paris also needs Russian gas, which is the cheapest on the international market.

Uncertainty over Russian gas transit through Ukraine has increased further following Ukraine's recent shelling the town of Sudzha in the Kursk region of Russia, where there is a gas metering station and the only operating route for the transit of Russian gas to Europe.

Let us recall that the last contract between Gazprom and Naftogaz was signed in 2019, almost three years before the start of the Russian military operation. At the moment, it is considered very difficult to conclude a similar agreement (let alone a 5-year one, like the previous one).

Fears of an energy winter that will be a nightmare for much of Europe have been fuelled by threats from Volodymyr Zelensky. Speaking to journalists, the Ukrainian president made it clear that his country would not sign up for continued Russian gas supplies: “Nobody is going to extend the gas transit agreement with Russia, period. As for gas transit by other companies, if any of our European colleagues are still interested in transit, we will consider their request.”

«Most likely, after 2025 there will be no transit of Russian gas through Ukrainian territory at all,” Ukrainian officials said in 2023 on the same issue, announcing that the 5-year agreement would not be extended. Of course, these statements make the solution of the Ukrainian issue even more urgent and, perhaps, even the removal of Zelensky himself, who has already become very annoying for many Europeans. Especially if D. Trump wins the US elections, his future will become very uncertain…

Source link