There isn’t time for a new gas transit deal to be reached between Russia and Ukraine, Russian President Vladimir Putin said on Thursday, who was quick to add that the lack of a deal was entirely Ukraine’s fault.
Ukraine has so far refused to extend the gas transit deal currently in place that would see gas transit continue uninterrupted to Austria, the Czech Republic, and Slovakia—a refusal that Putin says only hurts Europe.
The current gas transit deal began nearly five years ago and expires at the end of 2024, and if the deal does in fact expire without a new deal in place, it will indeed bring hardship to several European countries. According to Putin, the few days left in the year are not long enough to reach a new deal.
The volume of natural gas that flows from Russia through Ukraine and onto Europe via the current pipeline deal is about 15 billion cubic meters, or less than 10% of the total volume Russia shipped to Europe pre-Russian invasion of Ukraine.
Putin said Russia would be eager to bypass Ukraine if it weren’t for a lawsuit that makes it impossible, adding that Russia could supply gas to Europe through Poland via the Yamal pipeline.
In early November, Russia urged Europe to negotiate a new deal with Ukraine so the Russian gas could continue flowing. At the time, Russian Deputy Prime Minister Alexander Novak was quick to point out that Russia had little to do with the negotiations between Ukraine and Europe that could halt the flow of Russian gas at the end of this year.
“Of course, in my opinion, the European countries that currently receive gas through this corridor are interested in continuing such cooperation,” Novak told reporters “We are ready to supply (gas), but not much depends on us, so probably this should be negotiated directly between the users and the country through which the transit is provided.”
Last week, European Union leaders met in Brussels to discuss the issue of alternatives to Russian gas with Ukrainian President Volodymyr Zelensky. Ukraine has emphatically stated that it would not discuss the idea of continued Russian gas transit with Russia.
By Julianne Geiger for Oilprice.com