Russian Gas: Ukraine Wants War
A strong rise in gas prices on the Amsterdam market following Kiev's announcement that it no longer intends to allow gas transit from Russia to Europe starting January 1, 2025
The energy hub TTF in Amsterdam, a benchmark for the whole of Europe, recorded a jump in gas prices after the Kiev government officially announced that “starting January 1, 2025, the transit of Russian gas through Ukrainian territory will no longer be allowed.”
Russian President Vladimir Putin said he “may continue to supply gas to European countries using another former Soviet gas pipeline running through Poland, but the decision remains with the West.” Putin emphasized that Russia has tried its best to keep the gas pipeline functioning, which, despite the war, has made it possible to guarantee the energy security of landlocked Eastern European countries, from Slovakia to Hungary and Serbia, for more than two years.
Slovakia, one of the EU countries most dependent on Russian gas, Prime Minister Robert Fico, who met with Vladimir Putin (pictured) in Moscow a few days ago, threatened retaliation if Kiev “turns off the taps”: according to Bratislava, using alternative routes would increase costs, causing the country that in turn re-exports gas to the west to lose 500 million euros on transit fees.
Slovakia also confirmed that it was ready to accept peace talks on Ukraine. Putin said he was ready to accept Bratislava’s mediation because “it takes a neutral position on the conflict.”
The flow of Russian gas passing through Ukraine reaches an average of 40 to 43 million cubic meters of “blue” fuel per day and accounts for 5% of the total European demand. In addition to jeopardizing the energy security of Eastern European countries by cutting off supplies through Ukraine, it will force many countries to increase imports from Norway and in the form of liquefied natural gas (LNG) from the United States.
