Critical decision from Gazprom: Natural gas shipments to Europe halted

Russian energy company Gazprom has announced that natural gas shipments to Europe via Ukraine have been halted. In a statement from the company, it was reported that the term of the agreement regarding the shipments expired as of 08:00 TSI today and that Ukraine refused to extend the agreement.

Gazprom officials stated, "We no longer have the opportunity to supply natural gas via Ukraine. Shipments have stopped completely."

THE VOLUME OF RUSSIAN GAS HAD DECREASED

According to 2023 data previously published by the Ukrainian administration, the amount of Russian gas transported to Europe through the country had decreased by 28 percent compared to 2022, falling to 15 billion cubic meters. Ukraine's reluctance to renew the agreement has deepened the tension that has been ongoing between the parties for some time.

It was estimated that Ukraine earned approximately 1 billion dollars annually under the agreement, while Gazprom earned more than 3 billion dollars through this pipeline. However, the halt in shipments will cause significant economic losses for both sides.

It is known that European countries have been turning to different supply routes and sources as part of their efforts to reduce dependence on Russian gas. Gazprom, on the other hand, is evaluating different pipeline projects and direct shipment methods to replace the shipments made via Ukraine.