Russian vitality main Gazprom plans to pump twice as a lot fuel into European storage than final yr, whereas Moscow and Kiev haven’t nonetheless agreed on the phrases of a brand new transit contract.
Gazprom is planning to provide greater than 11 billion cubic meters to storage services in Europe, the top of the corporate, Alexey Miller, advised Russian President Vladimir Putin throughout their assembly on Monday.
“That is twice as a lot as final yr’s stage,” Miller identified. “We see that our European companions are pumping fuel at excessive pace, and our Ukrainian colleagues are attempting to do the identical.”
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The frenzy to top off fuel comes as the present 10-year transit contract is to run out on December 31, the top of Gazprom defined. Earlier this yr, Moscow provided Kiev to increase the settlement for 12 months, however didn’t obtain any response kind the Ukrainian aspect.
Regardless of Russia’s Nord Stream 2 pipeline set to turn into operational by the tip of the yr, Ukraine nonetheless is a key transit route for Russian fuel to Europe. Earlier talks on the matter, together with a gathering between the EU, Russia and Ukraine, did not hammer out a deal. The following spherical of trilateral talks is scheduled for September 19, the EU Fee’s Vice President for Power Union introduced.
“I’m satisfied that progress would ship a robust constructive sign to the market in addition to customers forward of the winter season,” commissioner Maros Sefcovic wrote on Twitter.
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In the meantime, Gazprom says that the settlement on direct fuel provide with Ukraine is much more vital than one on fuel transit. Kiev halted purchases of Russian pure fuel in 2015 and since then has been importing reverse provides from European nations, which come at larger value.
Ukrainian residents bear the price of this political resolution, as final yr costs for fuel imported by Ukraine hit a document excessive. Miller burdened that their troubles could possibly be eased if Russia and Ukraine lastly come to an settlement. He expects that the value might be 25 p.c decrease than the present stage.
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