Ukraine attacked "Turkish Stream"; Russia says gas supply remains secure.

On Monday (January 13),EXNESS foreign exchange platform official website local time, the Russian Ministry of Defense issued a statement claiming that Ukraine used nine fixed-wing drones last Saturday to attack the compressor station of the TurkStream gas pipeline in Krasnodar Krai. The aim was to disrupt the line transporting Russian gas to Europe. Russia stated that all drones were destroyed, with no casualties, but debris from the falling drones caused some damage to ground facilities and equipment.

The TurkStream pipeline is a crucial conduit for supplying Russian natural gas to Turkey and further to Southern Europe. With an annual gas delivery capacity of 31.5 billion cubic meters, it is considered one of the few ongoing gas supply routes between Russia and Europe. Since the outbreak of the Russian-Ukrainian conflict, other gas transport routes to Europe have been interrupted one by one, highlighting the increasing importance of the TurkStream pipeline.

Russia-Ukraine Gas Dispute Intensifies Europe's Energy Tension

The dispute between Russia and Ukraine over the gas transit agreement continues to escalate. As the agreement expires on January 1, 2025, Russia has stopped supplying gas to Europe through Ukraine. Ukraine's refusal to renew the contract has greatly impacted Europe, particularly Slovakia. Slovak Prime Minister Robert Fico criticized Ukraine's move for triggering an energy crisis, claiming President Zelensky "lobbied Western countries for more military aid," while Ukraine accused Fico of reaching a "secret deal" with Russia, undermining EU unity.

On Monday, Fico formally invited Zelensky to hold talks to discuss the possibility of resuming gas deliveries. He stated that Ukraine's decision has imposed a high economic cost on Slovakia and triggered a rise in gas prices. He suggested holding a meeting near the Slovak-Ukrainian border to seek technical solutions. According to Fico's data, the total volume of gas transported to Europe via Ukraine in 2024 was approximately 13.5 billion cubic meters, with about 3 billion cubic meters flowing to Slovakia.

Hungary Emphasizes the Importance of the TurkStream Pipeline

Hungarian Foreign Minister Péter Szijjártó warned that the TurkStream pipeline is crucial for Central Europe's and Hungary's energy supply. He views any threat to the pipeline's security as an infringement of national sovereignty. He emphasized that the pipeline has operated stably for years, with both suppliers and transit countries strictly fulfilling their contractual obligations. He called on all concerned parties to ensure the safety and continuous operation of this route.

Europe's Energy Challenges Persist

Against the backdrop of the Russia-Ukraine conflict, the uncertainty in Europe's energy supply continues to intensify. The fluctuation in gas prices and the associated geopolitical power plays may have profound impacts on the economies of multiple European countries. As Russia, Ukraine, and related countries engage in further negotiations, how each party addresses this challenge attracts significant attention.

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