Ukraine Will Not Extend Russian Gas Transit Contract, Zelensky Says

Kiev is not planning to extend the transit contract for Russian gas with Gazprom, which expires at the end of 2024. This was announced by Ukrainian President Volodymyr Zelensky.

“No one is going to extend the contract with Russia; it's been put to an end,” he said.

Zelensky also added that Ukraine will make a joint decision with the European Union regarding the transit of Russian gas through its territory to Europe. He clarified that this refers to gas transit from other companies.

Bloomberg reported that gas reserves in European storage facilities may not be sufficient to handle unforeseen circumstances during the winter, including a sudden cold snap or a halt in fuel supplies from Russia. It is noted that gas storage in Europe is already nearly 90% full, more than two months ahead of schedule. These reserves should be adequate, but only if “something unpredictable happens,” Bloomberg explains.