Russia shifts gas supply route to Europe through Turkish stream
Gazprom plans to double its gas supplies to Slovakia via the Turkish Stream starting in April due to the termination of the transit agreement with Ukraine. As reported by the Russian newspaper Kommersant, this change is expected to have financial impacts on Slovakia and the EU.
Gazprom, the Russian energy giant, announced a significant increase in gas supplies to Slovakia through the Turkish Stream. The General Director of SPP, Vojtech Ferencz, provided this information, as reported by Kommersant.
Starting February 1st, Gazprom resumed deliveries for SPP, with plans to double the supply in April. The contract between SPP and Gazprom is valid until 2034.
Previously, Slovakia received gas from Russia via Ukraine, but the transit agreement is set to expire on January 1, 2025.
Slovak Prime Minister Robert Fico highlighted that the country will lose about one billion euros due to increased gas prices. The European Union is expected to pay approximately 70 billion euros due to the interruption of transit through Ukraine.
The only route to Europe
The Turkish Stream is the sole route for gas supplies from Russia to Europe. Its capacity is approximately 15.8 billion cubic metres annually.
In February, deliveries through this pipeline hit a record level, surpassing 390 million cubic metres weekly. This pipeline is critical in Russia's energy strategy for the region.
