Ministry of Energy explains risks from Nord Stream-2 launch for Ukraine

Currently, there are no risks for Ukraine from Nord Stream-2, but they may arise starting from 2025.

A member of the expert council at the Ministry of Energy of Ukraine, Hennadii Riabtsev stated this, UNN reports.

"What are the risks? There are political statements by incompetent people in this area aimed at simply panicking. Since citizens don't understand who and how is setting gas prices in Ukraine, and what's the threat to national security, they tend to believe the statements of politicians.

What could be the threats from Nord Stream-2? Ukraine has a contract for gas transit until 2024 on the terms: 'pump or pay.' According to the contract, this year's volumes, 40 billion cubic meters should be pumped through the territory of Ukraine. Next year, the same volumes. What can be the threats? Gas comes to Europe under long-term contracts, i.e. it has already been paid for by 2024. And the reduction in transit through Ukraine will lead to the fact that suppliers in Europe will ask Gazprom: where's our gas, for which we've already paid?

Therefore, there are no risks for Ukraine now. They could emerge from 2025 when new contracts will be signed, and Gazprom will say it doesn't need 40 billion cubic meters, and only 20 billion cubic meters," said the expert.

Note

Gazprom has announced the completion of Nord Stream-2. And although the pipeline hasn't yet been launched, as previously stated by the head of the GTS Operator of Ukraine Serhii Makogon, Gazprom hasn't booked additional transit capacity in September, which will reduce transit to the EU, thus 'roughly hinting' that increased supplies to the EU possible only on Nord Stream-2.