Gazprom says continues to comply with Ukrainian transit deal
Russia's Gazprom continues to comply with its ship-or-pay contract for transit supplies to Europe via Ukraine, despite the escalating conflict there, Interfax reported on March 8.
Under its gas transit contract with Ukraine, Russia pays to pump at least 40bn m3/year, or 109.5mn m3/day, through the country's pipelines to Europe, regardless of how much it physically sends. That deal expires at the end of 2024.
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"Gazprom is supplying Russian gas for transit through the territory of Ukraine normally, in compliance with European consumers' requests, 109.5mn m3 as of March 8." Gazprom spokesman Sergei Kupriyanov said, according to Interfax.
Gazprom delivered 185.1bn m3 to countries outside of the former Soviet Union in 2021, with deliveries to China amounting to 7.1bn m3. The war in Ukraine has led to a spike in gas prices, with the April delivery contract at the TTF hub opening on March 8 at €245.2 ($267)/MWh on March 8, up from €79 two weeks ago.