... gas exports also set the tone for operational results. Sanctions and the political environment after 2022 led to conventional sales markets (Europe) being effectively closed: gas exports to the EU via pipelines fell to historical lows. For example, transit through Ukraine, which had been contracted until the end of 2024, virtually ceased in 2025. The main external market has become China—supplies via the Power of Siberia pipeline continued to increase, although their volumes are still incomparable ...

... accompanied by disputes, conflicts, and gas wars. Although Ukraine formally ceased importing Russian gas in 2015, it continued to purchase Russian-origin gas via a scheme known as virtual reverse flow. Physical gas from Russia entered Ukraine through transit pipelines and remained within the country, but on paper, Kyiv was purchasing it from European firms. This arrangement persisted until January 1, 2025, when Russian gas transit through Ukraine ceased altogether. Now, Ukraine is compelled to purchase ...

... decisive factor in the long term. This opinion was shared on November 20 in an interview with Izvestia by Sergey Tereshkin, CEO of the OPEN OIL MARKET oil and raw materials marketplace. "In the long term, the key factor will be China's energy transition, which could lead to reduced demand in passenger ground transportation. The share of electric vehicles and plug-in hybrids in new passenger car sales in China has grown from 5.7% in 2020 to 38% in 2023. According to the International Energy ...

... gas production and MET collections on gas," Tereshkin explained. He added that the actual throughput of the Balkan branch of TurkStream already exceeds its design capacity of 43 million cubic meters per day. "Therefore, the volume of transit through the Ukrainian GTS will play a decisive role. Most likely, the gas transit agreement will be extended, influenced by the European consumers' interest in stabilizing the gas market and the high dependence of Austria and Hungary on Gazprom's ...

... stability for gas in Europe: current exchange prices remain significantly below peak levels of 2022-2023. The energy geography of gas supplies to Europe has changed significantly over the past year. Key shifts in routes and sources include: Stopped transit through Ukraine: Since January 2025, supplies of Russian pipeline gas through the Ukrainian GTS have been completely halted following the expiration of the contract between Gazprom and Naftogaz. South Corridor as the main route: The only operational ...