Page 46 - Ukraine OUTLOOK 2025
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as in August. At the same time, the volume supplied to Hungary increased by 110% to 0.37mn tonnes.
• 7.2 Gas production & transport
Ukraine remained a major transit route for Russian piped gas deliveries to Central Europe. Volumes have fallen from the circa 45bn cubic metres that flowed through Ukraine pre-war, but the country continues to deliver some 15 bcm of gas to the EU.
However, the gas transit deal signed in 1999 is due to expire on December 31 and Kyiv has said it will not be renewed. Several countries, including Hungary, Austria and Slovakia, are looking to make alternative arrangements to maintain their supplies, with possible swap deals with Azerbaijan amongst the options.
The DTEK energy holding received the first batch of liquefied natural gas (LNG) from the United States after the vessel carrying it docked in Greece on December 27. "The consignment of approximately 100mn cubic metres of gas, or 1 TWh of energy, on board the Gaslog Savannah arrived at the Revithoussa LNG terminal on Friday morning. D.TRADING, DTEK's pan-European trading subsidiary, has purchased the entire cargo. Working with Greek and other partners, the LNG will now be re-gasified and exchanged through European Union and Ukrainian gas networks," DTEK's website reports. As the energy holding said, this delivery is part of more global measures aimed at strengthening the energy security of Ukraine and Europe by reducing their dependence on Russian gas.
The EU is considering two options for gas transit through Ukraine.
Energy ministers from European countries are discussing importing Russian natural gas against the backdrop of Ukraine's suspension of transits, beginning December 31. Kyiv and Moscow have stated that they are ready to find a solution in which Azerbaijan can be involved. The final decision will likely be made at the beginning of 2025.
Slovakia, together with Austria, are the leading gas consumers of Russian gas and would like to continue gas transits through Ukraine. One of the options being discussed is replacing Russia with Azerbaijan as a supplier, but it is not known whether this is feasible, as Azerbaijan lacks export capacity. Another option is for Azerbaijani SOCAR to assume Gazprom's role and sell gas to the EU, or the company could facilitate transit through Ukraine. Analysts note that continued transit of Russian oil and gas through Ukraine may be clarified after the US presidential election, which will determine American policy regarding Russian hydrocarbons in Europe.
According to the statistics, Russia remained among the European Union’s key gas suppliers in terms of value, accounting for 21.2%, ahead of the United States (19%) and second only to Algeria (21.6%) in 11M24.
The EU in September also imported Russian pipeline gas worth €547.8mn in October, the highest level since June 2024. Among leading purchasers were Hungary (€231mn), Greece (€150mn) and Slovakia (€124mn).
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