Europe to end gas imports from Russia via Ukraine at the beginning of the new year

(Dan Tri) - Although there are other alternative sources of supply, Europe still feels the impact of rising energy costs.

The logo of Russian energy corporation Gazprom on the facade of a shopping mall in Saint Petersburg (Photo: Reuters).

According to Reuters , Europe's gas imports from Russia via pipelines in Ukraine will end on New Year's Day after a transit agreement between Moscow and Kiev collapsed.

However, European officials say they are confident alternative routes will help prevent energy shortages for consumers.

The European Union (EU) has redoubled efforts to reduce its dependence on Russian energy by seeking alternative sources after conflict broke out in Ukraine in 2022.

Liquefied natural gas (LNG) imports from Qatar and the US have helped the EU find alternative supplies via pipelines from Norway.

The remaining buyers of Russian gas via Ukraine, such as Slovakia and Austria, have also arranged alternative supplies.

Despite progress in replacing supplies from Russia via Ukraine, Europe is still feeling the impact as higher energy costs impact its industrial competitiveness, for example compared to the US and China.

That situation contributed to a major economic recession, soaring inflation and worsening the cost of living crisis in Europe.

Ukraine now faces losing about $800 million a year in transit fees from Russia, while Russia’s Gazprom stands to lose nearly $5 billion in gas sales.

Source: https://dantri.com.vn/the-gioi/chau-au-cham-dut-nhap-khau-khi-dot-tu-nga-qua-ukraine-ngay-dau-nam-moi-20250101063819894.htm