OREANDA-NEWS  The termination of Russian gas transit through Ukraine will affect the entire European Union. This is how Igor Yushkov, a leading analyst at the National Energy Security Foundation, an expert and lecturer at the Financial University under the Government of the Russian Federation, assessed the demand for Russian gas in Europe. His words are quoted by the newspaper Izvestia.

According to the expert, fuel prices in the European gas market mainly increased in 2024, while Russian Gazprom made the best offer at any given time. Therefore, the loading of the remaining two gas pipelines through Ukraine and the Turkish Stream was maximum.

"Russian gas, it is clear that it is in demand in Europe, otherwise no one would buy it there. He's needed there. And this is actually the best offer on the market in 2024 due to the pricing specifics in the contract between Gazprom and European buyers," Yushkov explained.

The demand for Russian fuel in Europe is high, and the recent visit of Slovak Prime Minister Fico was intended to show this.

"Slovakia has always recognized that Gazprom's offer is the most profitable, because otherwise it will have to buy liquefied natural gas on the world market, deliver it to a coastal country, somewhere in Italy, then pay for reception, for regasification, conversion from liquefied to gaseous, and then for pumping gas through a pipeline to Slovakia.. Of course, these are additional costs, this is more expensive gas," the expert added.

If fuel supplies to the region through Ukraine stop, gas prices will rise for everyone amid shortages, regardless of whether someone bought it from Russia or not.