Ukraine gas transit continuation backed by European companies

Slovakian gas purchaser SPP has announced that, along with partners from Hungary, Austria and Italy, a declaration has been signed endorsing the sustained transit of natural gas via Ukraine, reported Reuters.

SPP chief executive Vojtech Ferencz said: “The declaration that we have prepared in SPP is intended to support the continuation of gas transit through the territory of Ukraine and the preservation of its gas infrastructure, because it is the most advantageous solution, not only for gas consumers in Europe but also for Ukraine itself.”

This move comes as countries reliant on Russian gas piped through Ukraine are actively engaged in discussions to prevent a potential cessation of these supplies when the existing transit contract between Kyiv and Moscow expires at the end of this year.

Ukrainian Prime Minister Denys Shmyhal stated that while Ukraine is prepared to negotiate a deal to maintain gas transit across its territory, it will not entertain an extension of the current arrangement with Russia.

Slovak Economy Minister Denisa Sakova has indicated that European countries and companies collectively anticipate a need for approximately 15bcm of Russian gas next year through Ukraine.

SPP disclosed that the declaration was also signed by Slovak pipeline operator Eustream, Hungarian entities MVM and MOL, as well as industry associations from Italy, Austria and Hungary.

According to SPP’s representative, the groups plan to submit their declaration to European Commission President Ursula von der Leyen.

Von der Leyen said: “The Commission does not support any discussions on the contract extension nor other solutions to maintain transit flows and has not been involved in any kind of negotiations on this.”

In the case of SPP, the company’s spokesperson, Ferenc, conveyed that the loss of gas supplies from the east would incur an additional cost of €150m ($157.5m) due to increased transit fees.

For the entire Slovak market, the financial impact is estimated to reach €220m.

“Ukraine gas transit continuation backed by European companies” was originally created and published by Offshore Technology, a GlobalData owned brand.

The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=6762c24dad5b4c7b9b7d92aeac88c488&url=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Fukraine-gas-transit-continuation-backed-121422801.html&c=7840959348926270513&mkt=de-de

Author :

Publish date : 2024-12-18 04:15:00

Copyright for syndicated content belongs to the linked Source.