Russian gas supplies to Europe soar in 2024

Pipeline gas supplies from Russia to Europe have seen an increase of 14% in 2024, reaching a total of 32.1 billion cubic meters.

This statistic represents significant growth compared to the volume of 28.15 billion cubic meters supplied in 2023, according to consolidated data from the Russian gas giant, Gazpromand the European Network of Gas Transmission System Operators (ENTSOG).

It is noteworthy that supply through Ukraine to countries in Western Europe e Central was 15.4 billion cubic meters, which represents an increase of six percent compared to the previous year.

Exports to southern and southeastern Europe via the gas pipeline TurkStream rose 23%, totaling 16.7 billion cubic meters.

Also in 2024, the month of December saw a three percent increase in Russian exports to Europe via this same route, compared to November.

Furthermore, estimates of the Turkish Energy Market Regulatory Authority point out that gas supply to the country could reach around 20 billion cubic meters per year.

As a result, the total supply of pipeline gas from Russia to Europe, including Turkey, is estimated at around 52 billion cubic meters for 2024, compared to 49 billion cubic meters in the previous year.

However, the scenario faces significant logistical challenges. The agreement for the transit of Russian gas through Ukraine, which provided for the transport of 40 billion cubic meters annually, expired on January 1. Kiev’s refusal to renew the contract led Gazprom to stop gas transit on this date, as stated by the company.

Russian President Vladimir Putin said it would not be possible to sign a new contract in the final days before the New Year, while officials in Kiev announced plans to cease transit of Russian gas.

In response to the situation, Ukraine expressed willingness to resume gas transit, conditional on a request from the European Commission and provided that the gas is not classified as “Russian”. Putin also mentioned the possibility of establishing contracts with third parties, including Turkish, Hungarian, Slovak and Azerbaijani companies.

With information from TASS