Wholesale gas price hits highest level in 14 months after Russian supplies stop

Transit agreement with Ukraine expires as storage supply levels in Europe fall at fastest rate since 2021

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The wholesale price of gas has risen to its highest level in more than a year after Russian supplies stopped flowing to rest of Europe via Ukraine.

Benchmark prices rose on Thursday to the highest level since October 2023, a day after a longstanding transit contract between Russia and Ukraine expired. Russian gas deliveries across Ukraine ended in the early hours of New Year’s Day.

Topics

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Ukraine halts supply of Russian gas to Europe

Ukraine ends agreement to allow gas to flow through its pipelines, with European supplies set to be tested as cold weather forecast later this week. Ukraine has halted Russian gas supplies to ...
The Guardian - 3d
Ukraine stops transport of Russian gas to Europe

Ukraine has halted the transportation of Russian gas supplies through the country after a prewar transit deal expired at the end of last year, the nation's energy minister confirmed. Ukraine ...
The Hill - 3d
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Era of cheap Russian gas to EU ends as transit across Ukraine stops

The EU says most states will not be affected but other European countries, including Moldova, are facing shortages.
BBC News - 3d
Russian gas stops flowing through Ukraine

Transit deal expires with no follow-up agreement on flows to central Europe
Financial Times - 3d

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