The current contract between Moscow and Kiev expires in 2024
The termination of Russian gas transit through Ukraine will seriously hit consumers in the EU, Kremlin spokesman Dmitry Peskov told journalists on Wednesday.
Ukrainian leader Vladimir Zelensky said on Tuesday that Kiev would not extend its gas transit agreement with Moscow, which expires at the end of 2024.
The Ukrainian decision could result in higher prices for European consumers who want to buy more affordable gas, Peskov stated.
“They [Europeans] will have to pay much more for gas from other suppliers, including for the US liquefied natural gas (LNG), which will make the [European] industry less competitive,” Peskov said.
The Kremlin spokesman, however, noted that there are also alternative routes for Russian gas supplies to the bloc, including via a planned Turkish hub.
“Work is underway on this matter,” Peskov stated.
Brokered by the EU, the five-year deal between Kiev and Moscow, signed in 2019, provides for Russian energy giant Gazprom to transit 65 billion cubic meters (bcm) of gas through Ukraine in 2020, and 40 bcm annually between 2021 and 2024.
