Novak announced the Russia'sreadiness to supply gas to the EU and discuss delivery conditions

By Rhod Mackenzie

The Deputy Prime Minister of the Russian Federation, Alexander Novak, stated on January 27th that Russia is prepared to supply gas to Europe and negotiate the terms of delivery.

Novak expressed his willingness to continue gas supplies to Europe beyond the current contract, which ends in 2024 (transit through Ukraine - Ed.), during Energy Day at the Russia forum and exhibition.

However, he noted a lack of interest from the European Union (EU) in engaging in discussions.
On January 17, Alfred Stern, the head of Austrian energy company OMV, stated that the transit of Russian gas through Ukraine may cease due to the ongoing conflict. He highlighted that Moscow and Kiev have yet to sign a new contract on gas transit to Europe.

On October 29, the head of the Ukrainian energy company Naftogaz, Alexey Chernyshov, announced that Ukraine would not renew the agreement on the transit of Russian gas to Europe, which expires at the end of 2024. He stated that Kyiv is not terminating the contract immediately due to its European partners' need for this transit.

The current five-year contract between the Russian Gazprom and the Ukrainian company Naftogaz was signed at the end of 2019. Deliveries commenced on January 1, 2020. This contract will expire at the end of 2024. As per the terms of the agreement, Gazprom is obligated to transport a minimum of 225 billion cubic meters of gas through Ukraine over the course of five years. In 2020, 65 billion cubic meters were transported, with 40 billion cubic meters to be transported in the following years.