Gazprom Reduces European Gas Flows Ahead of Transit Deal Expiration

Gazprom said it would pump a reduced flow of gas to Europe via Ukraine the day before a transit agreement with Kyiv is set to expire, Reuters reported Tuesday.

The state-controlled energy giant said it would pump 37.2 million cubic meters of gas on Dec. 31, down from 42.4 million cubic meters the previous day, before flows drop to zero at midnight when the five-year transit agreement expires.

Once responsible for 35% of Europe’s gas supply, Russia has seen its market share decimated to near zero following its invasion of Ukraine in 2022 and the EU’s subsequent pivot to alternative suppliers like Norway, the United States and Qatar.