The Russian state energy company, Gazprom, was expected to cut off its exports to Europe through Ukraine's pipelines today after a gas transit deal struck between the countries five years ago came to an end overnight.
In the absence of an 11th-hour deal, the halt marks a historic shift after the Kremlin's full-scale invasion of its neighbour in early 2022. Russia was once the continent's biggest supplier of gas but it has lost almost all of its EU customers since the war began, as buyers across central Europe have turned to the US, Norway and Qatar for their supplies.
"This is a moment of geopolitical significance," said Tom Marzec-Manser, an independent gas market analyst. "The end of the transit deal closes a major gas artery connecting Russia's gas reserves to Europe and could mean eastern European countries will import more gas from north-western European markets."
This story is from the January 01, 2025 edition of The Guardian.
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This story is from the January 01, 2025 edition of The Guardian.
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