Ukraine And Russia, Together Again?

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Ukraine And Russia, Together Again?
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Russia and Ukraine seem to be making nice. Gazprom and Ukraine’s state-owned energy firm Naftogaz have agreed to a 5-year transit deal which will keep Ukraine in the market

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Ukraine was always a key supplier of natural gas into southern Europe. But since 2014, when a pro-Russian government was overthrown in favor of a Western-backed one, Russia moved quickly on the natural gas front and made deals with Turkey and Germany to build new, alternative routes. According to the deal, first ironed out at the Normandy Four meetings in Paris on December 9 with Angela Merkel and Emmanuel Macron, Gazprom will have to sign two agreements over the next 10 days: an inter-operator agreement with the Ukrainian GTS Operator , and the second accord is with Naftogaz for booking transit volume. ... [+]

In 2022, production will stop at the Groningen gas field in the Netherlands, the tenth largest natural gas field in the world, due to concerns over earthquakes. They have been reducing capacity for the past several years and are now down to 17 billion cubic meters. In 2014, it was over 42 billion cubic meters.

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