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Transcript/Script((PLAYBOOK SLUG: TVR - UKRAINE-RUSSIA-GAS-EUROPE
HEADLINE: Ukraine blocks transit of Russian gas to Europe, forcing up prices
TEASER: Russia set to lose $5 billion; Slovakia criticizes Ukrainian decision
PUBLISHED AT: 01/02/2025 at 3:12 pm
BYLINE: Henry Ridgwell
CONTRIBUTOR:
DATELINE: London
VIDEOGRAPHER: Henry Ridgwell
VIDEO EDITOR:
SCRIPT EDITORS: cobus, Baragona
VIDEO SOURCE (S): Zoom, APTN, AFP, Reuters
PLATFORMS (mark with X): WEB _X_ TV _X_ RADIO __
TRT: 3:01
VID APPROVED BY: Baragona
EDITOR NOTES:))
((INTRO)) [[Natural gas prices in Europe have risen after Ukraine ended the flow of Russian gas across its territory into the EU. As Henry Ridgwell reports, Moscow once supplied more than one third of Europe’s needs — but the continent has managed to wean itself off Russian gas following the Kremlin’s 2022 invasion of Ukraine.]]
((VIDEO: AGENCY FOOTAGE OF EUROPE GAS TERMINALS))
Wholesale gas prices in Europe rose on Thursday to their highest level since October 2023.
((VIDEO: AGENCY FOOTAGE OF GAS PIPELINES IN UKRAINE))
It follows Ukraine’s decision to end the transit of Russian gas across its territory to Europe on January 1. Moscow is set to lose over $5 billion dollars a year — while Ukraine will lose around $800 million dollars in transit fees. But the impact on Europe will be limited, says energy analyst Thomas O’Donnell.
((Thomas O’Donnell, Wilson Center))
((cf. Zoom logo))
“It was all prepared for. It's basically all priced in. Now, of course, there's winners and losers to a certain point. Certain countries are more dependent on this than others. Slovakia, Hungary, for example, Austria. They will have plenty of gas. It's just that they'll have to pay more, like everybody else has all along.”
((VIDEO: AGENCY FOOTAGE OF ZELENSKYY / AFTERMATH OF RUSSIAN MISSILE ATTACK))
Ukrainian President Volodymyr Zelenskyy said last month he would no longer give Russia the “opportunity to earn additional billions” while its forces continued to wage a war of aggression on Ukraine’s soil.
((VIDEO: AGENCY FOOTAGE OF FICO MEETING PUTIN))
Slovakian Prime Minister Robert Fico ((pron. Fee-so)) is close to Russian President Vladimir Putin. The two met in Moscow last month.
Fico opposes Western support for Kyiv. Speaking Wednesday — after Ukraine cut the Russian gas supply — he accused the EU of sacrificing the interests of smaller members for what he called “meaningless” geopolitical goals.
((Robert Fico, Slovakian Prime Minister (in Slovakian) ))
“[It] will have drastic impacts on all of us in the European Union, but not on the Russian Federation.”
((VIDEO: AGENCY FOOTAGE OF LNG IMPORTS FROM UNITED STATES))
In reality, the European Union has drastically cut its dependence on Russian gas — thanks in part to a big increase in liquefied natural gas imports from the United States.
((VIDEO: AGENCY FOOTAGE OF LNG IMPORTS FROM UNITED STATES))
Imports of Russian gas through Ukraine made up around 5% of Europe’s total supplies in 2024. Some of the gas was sent on to Western Europe through Slovakia — and that explains Fico’s concerns, says O’Donnell.
((Thomas O’Donnell, Wilson Center))
((cf. Zoom logo))
“Slovakia was making something like half a billion dollars on transit fees passing the [Russian] gas across their country through their pipeline system onto others.”
((VIDEO: AGENCY FOOTAGE OF GAZPROM))
Before its full-scale invasion of Ukraine in February 2022, Russia’s state-run Gazprom was Europe’s largest gas supplier. Putin miscalculated Europe’s response, says O’Donnell.
((Thomas O’Donnell, Wilson Center Global Fellow))
((cf. Zoom logo))
“Putin portrays himself as a great Russian nationalist. Well, this great Russian nationalist just lost one of the biggest businesses Russia ever had.”
((VIDEO: AGENCY FOOTAGE OF GAS PIPELINES IN UKRAINE))
Moscow’s other supply routes to Europe are limited.
((VIDEO: AGENCY FOOTAGE OF YAMAL PIPELINE))
The Yamal-Europe pipeline via Belarus was shut down in 2022.
((VIDEO: AGENCY FOOTAGE OF NORD STREAM EXPLOSION))
Months later, the Nord Stream pipeline under the Baltic to Germany was sabotaged.
((VIDEO: AGENCY FOOTAGE OF TURKSTREAM PIPELINE))
Russia is still able to supply gas to Hungary, Turkey and Serbia through the TurkStream pipeline.
((Henry Ridgwell, VOA News))
NewsML Media TopicsArts, Culture, Entertainment and Media
Subtitles / Dubbing AvailableNo
NetworkVOA
Embargo DateJanuary 2, 2025 15:46 EST
BylineHenry Ridgwell
Brand / Language ServiceVoice of America - English
