Russian gas exports through Ukraine will halve in 2015 – Fitch
Moscow – Kyiv, February 16 (PolitNavigator, Mikhail Shtamm) – Russia is reducing gas transit to the EU via Ukraine at an unprecedented pace and increasing it via Nord Stream, Kommersant reports . As a result, transit through Ukraine fell by 28% in 2014, to 62 billion cubic meters, and Fitch expects it to decline to 50 billion cubic meters in 2015.
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At the end of 2014, Gazprom reduced gas exports to EU countries by 13,8%, the newspaper recalls. One of the reasons is the company’s attempt to stop the flow of gas to Ukraine from the Czech Republic, Slovakia, Austria and Hungary. As a result, exports to these countries collapsed by 40-60%.
But it's not just about the reverse. In general, for the year, exports decreased to almost all EU countries, and most strongly to those supplied through Ukraine. Thus, supplies to Italy fell by 14,4%, France - by 13,2%, Austria - by 24,5%, the Czech Republic - by 35%, and Slovakia - by 19%. Countries supplied through the Yamal-Europe and Nord Stream gas pipelines showed the best results.
As a result, Gazprom for the first time significantly changed the geography of gas supplies to Europe. For example, the Czech Republic, which a few years ago was entirely supplied through Ukraine, has now switched to supplies through the Opal gas pipeline (an onshore extension of Nord Stream). Slovakia, which until 2014 received all its gas through Ukraine, is now half supplied through the Czech Republic.
Since October, gas volumes flowing into the EU through Velke Kapušany on the Slovak-Ukrainian border (the main transfer point) have fallen to around three times the average level in the previous two years. And even fines in favor of clients for incomplete satisfaction of requests, newspaper sources say, do not stop Gazprom from pursuing a new policy.
Russian gas exports through Ukraine will halve in 2015 – Fitch