Russia’s gas tap to Europe could be shut off this year; will this affect the price of gas?

Russia’s gas tap to Europe could be shut off this year; will this affect the price of gas?
Russia’s gas tap to Europe could be shut off this year; will this affect the price of gas?
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Author: Lelde Weinberga, TV24

The European Commission calls for Russia’s complete abandonment of fossil fuels by 2027. Currently, the main consumer of Russian gas is Austria. The gas transit agreement between Russia and Ukraine expires this year, does this mean that gas will no longer flow to Europe? Member of the European Parliament (EP) Andris Ameriks shares his forecast in the TV24 program “Ziņu TOP” (Honor to serve Riga).

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Ukrainian officials have announced that they will not extend the contract with Russia for the transit of its gas through Ukraine to Europe, which may mean that Russian gas will no longer have the opportunity to reach Europe. This may lead to the search for alternatives to cover the gas deficit, which is around 5-6% of the total European consumption. One of the options is to increase the consumption of liquefied gas.

“Will it affect the price? It can be influenced, but I would say that no one is going to say what kind of winter it will be, or if there will be one at all. I would say that politicians are solving today’s issues, but the fact that Ukraine has said that she will not extend the transit agreement will certainly bring about changes in general,” predicts A. Ameriks.

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The article is in Latvian

Tags: Russias gas tap Europe shut year affect price gas

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