"Ukraine's Natural Gas Supply at Risk as Russian Flows Face Shutdown in 2024"

The transit contract for Russian natural gas flowing through Ukraine to Europe is set to expire next year, and the chances of a new contract being negotiated are slim, according to the Ukrainian energy minister. This means that the flow of gas will stop, ending Ukraine’s transit fee income and the supply of gas to countries such as Austria and Slovakia. The EU has been diversifying its gas imports away from Russia, but the Ukrainian route still accounts for 5% of Russian gas exports to Europe and supplies about half of Austria’s gas and up to 95% of Slovakia’s gas imports.