Ukraine announces an end to the transit of Russian gas to Western Europe. The government in Kiev will not renew the transit contract, which runs until the end of the year, Energy Minister Herman Halushchenko announced on Sunday.
“I can confirm that we do not intend to enter into additional agreements or extend this agreement,” the company said in a statement. Austria currently gets about two-thirds of its gas from Russia – via Ukraine. OMV has a long-term supply contract with Russia until 2040.
Gas prices in Europe feared to rise
The current transit contract, which continues to supply Western customers despite the war started by Russia, dates from 2019. Experts fear that an end to gas transit through Ukraine could lead to a rise in gas prices on the European market. .
Russian natural gas from several major pipeline routes from Northern Siberia and Central Asia converges in Ukraine and is transported via the Transgas route via Slovakia and the Czech Republic to Austria and Germany.
Source: Krone
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