Russia's last gas flows to central Europe

CGTN Europe

A deal allowing Russia to export gas to Europe through Ukraine will expire on January 1st 2025.  That comes despite efforts from Moscow and some European countries to renew the deal.  CGTN’s Johannes Pleschberger reports from Austria, one of the impacted countries

Transcript

00:00Austria's Baumgarten terminal is ready to receive its last gas flows from Russia.

00:05Despite previous transit stop announcements by Ukraine,

00:08Kiev has so far never implemented them, but experts say this time is different.

00:14Starting January 1st, 2025, it's our understanding that eventually, you know,

00:19the Russian gas that's coming to Europe is going to stop completely.

00:23Energy analyst Anna Subasic says efforts by Slovakia and Hungary to negotiate a new transit deal

00:28have likely not been successful.

00:31She's expecting Central and Eastern Europe to make the shift from Russian gas

00:35to liquefied natural gas coming from Northwestern Europe instead.

00:39Europe will rely on a lot more LNG to kind of

00:43fill for this kind of loss that we are seeing from pipeline gas,

00:47which is around 15 BCM on a yearly basis.

00:52Gas flow through Ukraine accounts for around half of Moscow's pipeline exports to Europe.

00:58So after decades of cheap Russian gas,

01:00consumers in Central Europe now fear LNG imports will increase energy prices.

01:07At the beginning of December, Austria unilaterally cancelled its gas contract with Moscow

01:12after Russia's state-owned Gazprom had refused to supply gas to Austria's OMV company

01:17over payment disputes.

01:19Gazprom lost one of its few remaining long-term pipeline gas buyers in Europe.

01:24For 50 years, Austria sourced an average 80 percent of its gas supply from Russia.

01:29Johannes Blechberger, CGTN, Villach in Austria.

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