Russia-Ukraine transit talks: the risks to gas in Europe
Trilateral talks between the EU, Russia and Ukraine on gas transit through Ukraine after 1 January 2020 – that is, after the expiry of the current transit contract – are due to resume in late May. Gazprom’s transit diversification projects, Nord Stream 2 and Turkish Stream, will not be operating at full capacity by that time and arrangements must be made. But there is little sign of progress in the talks and political factors could prevent a deal being done. Companies and governments are assessing the risk of a supply interruption. Should one occur, it could have a lasting negative impact on the position of gas in Europe.