On Monday, Ukraine's state energy firm Naftogaz head Yuriy Vitrenko estimated that the Russia-EU gas transit deal in Ukraine is unlikely to be renewed.
The Nord Stream 2 pipeline is being built between Russia and Germany and would bypass transit countries, particularly Ukraine. Moscow has said should help to bring gas prices down as the pipelines will go directly to Germany and not go in transit.
According to Vitrenko, there is a possibility that there will be no gas supplies from Russia through the transit route in Ukraine beyond the expiry date of the Russia-Ukraine gas transit deal in 2024 as there have been no discussions with Russia about extending the deal.
"There's nothing, not even a hint, no official or unofficial talks, (with Russia)... we are discussing it with the Americans and the Germans that all of us would like the transit to continue, but the Russians are reluctant to start these discussions," he said.
If the deal is not renewed, Europe’s reliance on the Nord Stream 1 and 2 pipelines would tighten Russia's grip on the region’s gas supplies, making the bloc more vulnerable to politically motivated supply disruptions and price spikes.
Even when Ukraine has been granted a right to be included as part of the pipeline’s certification process, it has no power to halt its ultimate certification. Even so, Ukraine would be willing to challenge any ultimate certification of the project if it does not believe the project complies with European law.
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Published on November 30, 2021 11:54 AM (GMT+8)Last Updated on November 30, 2021 11:54 AM (GMT+8)
