On Wednesday morning, Gazprom announced in a Twitter message that it would stop gas supplies to Europe via Ukraine. The Russian company had already issued a warning on Tuesday that transit through Ukraine could be at risk. The move was prompted by a dispute over accounting and legal issues. Moscow has now imposed sanctions on the Ukrainian state gas company Naftogaz. If the Russians take this decision, Gazprom will not be allowed to pay any transit fees to the Ukrainian company.
Naftogaz filed a lawsuit against Gazprom earlier this month over the non-payment of transit fees. Although the two countries are at war, gas continues to be transported to Europe via Ukraine, although the Ukrainians' transit revenues have fallen sharply. Gazprom's announcement prompted an immediate surge in the price of natural gas on the Dutch energy exchange, with an intraday rise of more than eight percent on Wednesday morning. Gazprom rejects the claims of Ukraine's Naftogaz, saying it will not be paid for services not rendered.
Foreign Affairs Minister Tamás Menczer commented on the news on Facebook:
"Russia's Gazprom may stop gas supplies to Europe via Ukraine due to disputes.
If this does happen, Russian gas will only reach Europe from the south, via the Turkish Stream, as the Northern Stream route has already been stopped.
The southern route is Turkey, Bulgaria, Serbia, Hungary.
Europe is facing a growing energy crisis.
However, Russian gas is coming to Hungary, and we cannot have families without heating and jobs at risk because of the lack of gas.
Naftogaz filed a lawsuit against Gazprom earlier this month over the non-payment of transit fees. Although the two countries are at war, gas continues to be transported to Europe via Ukraine, although the Ukrainians' transit revenues have fallen sharply. Gazprom's announcement prompted an immediate surge in the price of natural gas on the Dutch energy exchange, with an intraday rise of more than eight percent on Wednesday morning. Gazprom rejects the claims of Ukraine's Naftogaz, saying it will not be paid for services not rendered.
Foreign Affairs Minister Tamás Menczer commented on the news on Facebook:
"Russia's Gazprom may stop gas supplies to Europe via Ukraine due to disputes.
If this does happen, Russian gas will only reach Europe from the south, via the Turkish Stream, as the Northern Stream route has already been stopped.
The southern route is Turkey, Bulgaria, Serbia, Hungary.
Europe is facing a growing energy crisis.
However, Russian gas is coming to Hungary, and we cannot have families without heating and jobs at risk because of the lack of gas.
Gas is being transported unhindered via the Turkish Stream pipeline.
Hungary's energy security and gas supply have been and will be protected.
Energy is not an ideological issue, it is a matter of reality.
It is either there or it is not.
We have it. And we will have it.
But the situation is getting worse and the price is rising...
This is not what Brussels promised.
The sanctions policy has failed.
Without meaningless sanctions on energy, energy prices and inflation would immediately halve."
