Russia Reduces Gas Transit Through Ukraine as Contract Expires

On the last day of the gas transit agreement with Ukraine, Russia has significantly cut its gas deliveries. According to the Russian gas company Gazprom, only 37.2 million cubic meters of gas will flow on Tuesday, down from 42.4 million cubic meters the previous day. Following the expiration of the transit contract between Gazprom and the Ukrainian company Naftogaz on January 1, 2025, gas shipments are expected to cease entirely.

This agreement allowed for the transportation of gas from Russia through Ukrainian pipelines to Central Europe, despite the ongoing conflict initiated by Russia. However, Ukraine has refused to extend the contract with Russia. The cessation of gas transit would represent a major shift in Europe's gas supply landscape.

Countries such as Slovakia, the Czech Republic, and Hungary still rely on pipeline gas from Russia, and an end to these supplies could pose significant challenges for them. Austria also continues to receive a considerable portion of its gas from Russia. Nevertheless, due to full gas storage facilities and alternative import routes through Italy and Germany, Austria is reportedly well-prepared for a potential halt in deliveries.

As the conflict with Ukraine has progressed, Russia has diminished its status as a leading gas supplier in Europe. Austria, while gradually reducing its dependence on Russian gas, remains engaged with Russia in various capacities even after the anticipated cessation of gas supplies.