Escalating tensions between Russia and Ukraine
Russian supplies to Europe via Ukraine may be heading for an interruption next year
The odds of Europe experiencing a gas supply crisis similar to the one that occurred in 2009—when Russian gas stopped flowing through Ukraine in the depths of winter—have risen sharply in recent months. Even a decade on, memories of that supply disruption remain fresh. The contract that governs transit of Russian gas through Ukraine expires on 31 December and it is looking increasingly unlikely that talks to agree a successor will bear fruit. Without such a contract in place, Russian deliveries to Europe will almost certainly stop on 1 January. The seriousness with which some stakeholders regard this prospect is evident in their preparations for it. Hungary, for example, has decided to buy a
Also in this section
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust