By Eliza Popova
This happened after the invasion of Ukraine into the Kursk region of Russia, near a key gas transit point through which fuel is supplied to several European countries. Earlier this month, fears of possible interruptions have led to a jump in gas prices to the highest level for this year. Traders expected that Russian gas would continue to flow through the Sudzha gas station station by at least 2024, when a key transit agreement expires.
However, these plans were threatened by active fighting, even though both parties have declared their readiness to continue supplying gas. Although Europe has made efforts to reduce Russian gas after Russia's invasion of Ukraine, the cessation of supply in the coming months will still be a shock for the market, which will lead to an increase in prices for consumers and industry. This will especially hit Austria and Slovakia, which continue to depend on Russian fuel.
These risks, along with the possible exacerbation of the conflict in the Middle East or unforeseen changes in deliveries from the leading supplier of Norway, can further destabilize the market less than two months before the start of the heating season. We will remind, on August 13, Bloomberg wrote that Ukraine and Russia are planning to maintain gas supply to Europe despite battles in the area of the Sudzh gas station in Kursk region.
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