Gas prices in Europe have risen as the end of the transit agreement with Ukraine approaches
Natural gas prices in Europe continue to rise for the third day in a row, as the expiration of the gas transit agreement between Russia and Ukraine draws closer. There is a little more than a week left until the end of the contract.
About this informs Bloomberg.
Prices rose 1.6% on December 23, adding to last week’s 7% increase. Political statements indicate that the possibility of continuing transit through Ukraine after December 31 is becoming less and less likely.
Russian gas remains an important source of supply for some Central European countries. However, Ukraine said last week that it would not agree to alternative options that would involve the transit of Russian gas through its territory.
Earlier, the President of Ukraine, Volodymyr Zelenskyy, stated that Ukraine will not provide transit of Russian gas unless it receives guarantees that the Kremlin will not receive financial benefits in wartime.
Gas reserves in European storages remain lower than last year’s level, which may make it difficult to replenish them next year.
