In an interview with Rossiya 24 channel, Russian Deputy Prime Minister Alexander Novak emphasized that the decision on the future of gas transportation depends on the consensus between the Ukrainian government and the European Union (EU). "On our side, Russia has always affirmed its readiness to continue supplying gas, not only through the current route through Ukraine," Novak said.
The end of the gas route through Ukraine is causing countries such as Slovakia, which are heavily dependent on Russian gas from Gazprom, to face the risk of energy shortages, especially as the cold winter approaches.
However, Ukrainian President Volodymyr Zelensky said that Ukraine would not allow gas transit from Russia without guarantees that Moscow would not make financial gains during the war.
Currently, Russia continues to export gas to Europe via other routes. In addition to the route through Ukraine, gas is also transported via the TurkStream branch across the Black Sea, with a total capacity of about 15 billion cubic meters per year. Some of the gas is also transported by ship in the form of liquefied natural gas (LNG). According to Mr. Novak, total Russian gas exports to Europe exceeded 50 billion cubic meters in the first 11 months of this year.
Notably, in September, President Vladimir Putin said that Russia was ready to restore gas supplies through the last undamaged branch of Nord Stream 2 in the Baltic Sea after sabotage in September 2022.
Despite the political pressure, Novak asserted: "Russian gas remains more attractive in terms of price and logistical feasibility for customers in the region."
However, the future of Russian gas supplies to Europe remains highly dependent on the geopolitical context, while gas demand in Europe is expected to increase sharply due to cold weather and faster-than-expected declines in reserves.
Traders are now facing fierce competition with the Asian market to secure LNG supplies for next year, making the picture of European energy more complicated than ever.
