Exclusive-Ukraine's Naftogaz says Russia-EU gas transit deal may not be renewed

FILE PHOTO: The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia

By Susanna Twidale

LONDON (Reuters) – Ukraine's state energy firm Naftogaz has no power to halt the Nord Stream 2 pipeline being built between Russia and Germany, despite its role in the certification process, while its own transit deal with Russia may not be renewed, Naftogaz head Yuriy Vitrenko told Reuters on Monday.

Amid an energy crunch in Europe which has seen record gas price across the bloc, the market is closely watching for the signs whether the German authorities would be ready to certify soon the Nord Stream 2 pipeline that will carry more Russian gas to Europe's biggest economy – something Moscow has said should help to bring prices down.

It would bypass transit countries, particularly Ukraine, which has a history of gas pricing standoffs with Moscow, and with which Russia has a gas transit deal until 2024.

Vitrenko said it is possible there will be no gas supplies from Russia through the route beyond that date as there have been no discussions with Russia about extending the deal.

“There's nothing, not even a hint, no official or unofficial talks, (with Russia)… we are discussing it with the Americans and the Germans that all of us would like the transit to continue, but the Russians are reluctant to start these discussions,” he said.

If the deal is not renewed, he said reliance on the Nord Stream 1 and 2 pipelines direct to Germany, would tighten Russia's grip on Europe's gas supplies, making the bloc more vulnerable to politically motivated supply disruptions and price spikes.

Germany's energy regulator earlier this month suspended the approval process for the new Nord Stream 2 pipeline and said the Swiss-based consortium behind the project first needed to form a German subsidiary company under German law to secure an operating licence.

The regulator also granted a Ukrainian request to be included as part of the certification process..

This, Vitrenko said, means Ukraine has some access to documents submitted and has the right to be heard on the process but does not give it any power to halt its ultimate certification.

“There is no veto power whatsoever,” he said.

He said Ukraine would be willing to challenge any ultimate certification of the project if it does not believe the project complies with European law.

“We hope it wont happen, but if it happens they certify it without full compliance with the spirit of the letter of European law then of course we will go to court,” Vitrenko said.

(Reporting By Susanna Twidale; editing by David Evans)

News Related

OTHER NEWS

Now is not the time to panic with your 401(k) investments. Experts say to make these moves instead

Mihtiander | Getty Images The stock market's wild ride this week may have you questioning your retirement investing strategy. On Monday, the Dow Jones Industrial Average shed more than1,100 points ... Read more »

Biden: Ukraine invasion would ‘change the world' — but US, NATO won't be there

President Biden said Tuesday that a Russian decision to invade Ukraine would “change the world” — moments after reiterating that he has “no intention of putting American forces or NATO ... Read more »

Russian forces are massing on Ukraine's border. Here's what Russia watchers think could be Putin's next big move.

A view shows Russian T-72B3 main battle tanks during combat exercises at the Kadamovsky range in the southern Rostov region, Russia January 12, 2022.REUTERS/Sergey Pivovarov Russia has massed a lot ... Read more »

UK promises to ‘contribute' troops to NATO if Russia invades Ukraine

UK Prime Minister Boris Johnson said Tuesday that the United Kingdom will be willing to “contribute” to necessary NATO deployments if Russia invades Ukraine, saying Moscow has put a “gun” ... Read more »

Here's what investors should know as stocks continue a wild ride

Traders work on the floor of the New York Stock Exchange at the opening bell January 25, 2022. TIMOTHY A. CLARY | AFP | Getty Images Stocks have taken a ... Read more »

Rosja manewruje na morzu. Rybacy z Irlandii zapowiadają pokojowe protesty

okręt – zdjęcie ilustracyjne Gdynia, 2000. Rosyjski niszczyciel rakietowy – flagowy okręt Floty Bałtyckiej Federacji Rosyjskiej ‘Nastocziwyj’ – zdjęcie ilustracyjne Szczecin, 2011. Korweta rakietowa ‘ZYB’ projektu 1234, typu ‘OWOD’, należąca ... Read more »

'You're playing with fire if you don't report it.' What happens if you don't disclose crypto activity this tax season

The crypto ecosystem has expanded significantly in recent years. While institutions such as the IMF are starting to embrace its innovation, they are also calling for investors to exercise caution. ... Read more »

Millions of frustrated taxpayers still waiting on last year's refund as tax season begins

Alysha Holliday of Ohio, like millions of Americans, is still waiting for last year's tax refund.Alysha Holliday Tax filing season began this week, but millions of taxpayers are still waiting ... Read more »

Market Selling Resumes; GE, J&J Miss on Revenues

Tuesday, January 25, 2022Yesterday afternoon’s respite from a weeks-long sullen, bearish attitude in the market indexes came as a breath of fresh air. We hope everyone got to enjoy it, ... Read more »

Play IBM Strength With These ETFs

After the closing bell on Jan 24, International Business Machines IBM cheered investors as it reported solid fourth-quarter 2021 results, beating earnings estimates. Though the software giant lagged on revenues, ... Read more »

Zacks.com featured highlights include: Ford Motor Co., General Motors Co., KB Home, Group 1 Automotive and Signet Jewelers Ltd

For Immediate Release Chicago, IL – January 25, 2022 – Stocks in this week’s article are Ford Motor Co. F, General Motors Co. GM, KB Home KBH, Group 1 Automotive ... Read more »

3 Gaming Stocks to Buy Despite Industry Challenges

The Zacks Gaming industry is gradually recovering from the pandemic blues. Although Macau, Las Vegas and Singapore are showing signs of resurgence, revenues and traffic from the regions are still ... Read more »

Ericsson (ERIC) Beats Earnings & Revenue Estimates in Q4

Ericsson ERIC reported impressive fourth-quarter 2021 results, wherein both the bottom and the top lines beat the Zacks Consensus Estimate.The Sweden-based telecom gear maker continues to expand its footprint, despite ... Read more »

Etsy (ETSY) Moves 3.5% Higher: Will This Strength Last?

Etsy (ETSY) shares ended the last trading session 3.5% higher at $154.06. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. ... Read more »

Catalent (CTLT) to Report Q2 Earnings: What's in the Cards?

Catalent, Inc. CTLT is scheduled to report second-quarter fiscal 2022 results on Feb 1, before market open. – Zacks In the last-reported quarter, the company’s earnings of 71 cents per ... Read more »

These Are The Ten Stocks With Worst Start To 2022

The stock market didn’t have the best start in 2022. Worries over rising coronavirus cases and inflation have made investors less confident in equities. Investors, however, could use the current ... Read more »

Is Jack Henry & Associates a Smart Stock to Buy Now?

The shares of S&P 500 fintech company Jack Henry & Associates (JKHY) have been declining in price this year due to the broader market weakness. So, as the Fed prepares ... Read more »

4 Buy the Dip Semiconductor Stocks That Offer Growth and Value

The global semiconductor industry achieved unprecedented growth last year thanks to hefty private capital investments and government funding. Because this trend is expected to continue in 2022, we think it ... Read more »

5 Big Cap Earnings All Stars to Watch This Week

Earnings season picks up steam this week as over 400 companies are expected to report, many of them being large cap companies. – Zacks The large caps have outperformed over ... Read more »

Zions' (ZION) Q4 Earnings & Revenues Beat Estimates, Costs Up

Zions Bancorporation’s ZION fourth-quarter 2021 net earnings per share of $1.34 surpassed the Zacks Consensus Estimate by a penny. The bottom line, however, decreased 19.3% from the year-ago quarter’s number.Results ... Read more »

3M's (MMM) Earnings and Revenues Surpass Estimates in Q4

3M Company MMM reported solid fourth-quarter 2021 results. Its earnings surpassed estimates by 13.79% and sales exceeded the same by 0.08%. This is the company’s eighth consecutive quarter of earnings ... Read more »

UK troops will be sent to protect eastern Europe if Russia invades Ukraine, Boris Johnson says

© AP Russia was criticised for ‘the threat of brute force to terrify reasonable people into giving way’ – AP British troops will be sent to help protect countries in ... Read more »

Ukraine thwarts destabilization plot by Russian-backed crime group: officials

Ukrainian security officials announced Tuesday they had stopped an attempt by a Russian-backed crime organization to destabilize the country amid worries of an invasion by Moscow. Kiev’s SBU security service ... Read more »

Lofoten: 4.9 billion kroner contract for the operation of hydrogen ferries finalized

The Norwegian Public Roads Administration has signed a contract with Torghatten Nord to operate hydrogen ferries between Bodø and Lofoten. The contract has a value of NOK 4.9 billion. Torghatten ... Read more »

Amerykanie zbroją Ukrainę. Broń do niszczenia bunkrów przyleciała właśnie do Kijowa

W poniedziałek, 25 stycznia, na Ukrainę dotarła trzecia partia pomocy wojskowej ze Stanów Zjednoczonych. Samolot z transportem broni i amunicji ze Stanów Zjednoczonych wylądował na międzynarodowym lotnisku Kijów-Boryspol. Amerykanie przekazują ... Read more »

Why I think this cheap FTSE 250 stock looks set to accelerate higher

Business development to success and FTSE 100 250 350 growth concept. Worldwide, the FTSE 250‘s TI Fluid Systems (LSE: TIFS) is one of the leading players in the automotive industry. ... Read more »

Emmanuel Macron willing to sacrifice Western unity on Russia in his push for a stronger EU

Germany’s Olaf Scholz and Emmanuel Macron at an earlier meeting. The two leaders will talk on Tuesday to try and form a common position on retaliation if Russia invades Ukraine. ... Read more »

UK will send troops to NATO allies if Russia invades Ukraine

Prime Minister Boris Johnson says the British Army “would look to contribute” to any fresh NATO troop deployments if Russia invades Ukraine. He warns Vladimir Putin the resistance in Ukraine ... Read more »

Markets are on a roller coaster ride. Here' what to keep in mind as stocks whiplash

Morsa Images | E+ | Getty Images The U.S. stock market has been on a rollercoaster ride of late. Stocks slumped again on Tuesday after a wild trading session a ... Read more »

SEC chair eyes tougher cyber rules to protect investors against hackers

SEC chairman Gary Gensler testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on Sept. 14, 2021 in Washington.Evelyn Hockstein-Pool/Getty Images Securities and Exchange Commission chairman Gary Gensler ... Read more »

3 investing lessons from the 1929 stock market crash

Tired or stressed businessman sitting on the walkway in panic digital stock market crash financial background As investors pay close attention to what might happen next in stock markets, I ... Read more »

Putin vows support for China over Winter Olympics diplomatic boycott

Russia President Vladimir Putin lashed out Tuesday against the US-led diplomatic boycott of next month’s Winter Olympics in Beijing, calling it “demonstrative” before lamenting what he called the “politicization of ... Read more »

US finalizing plans to divert gas to Europe if Russia cuts off supply

The US has helped prepare for the diversion of natural gas supplies from around the world to Europe in the event that the flow from Russia is cut, in a ... Read more »

What's next for the IAG share price in 2022?

Aircraft wind on the sunrise sky background. Might we be reaching the Covid end-game sooner than expected? That should be good news for travel companies like International Consolidated Airlines (LSE: ... Read more »

Wall Street heads lower as Fed, Ukraine capture investor attention

U.S. stocks continued their downward trend on Tuesday, opening sharply lower as safe havens gained ground amid investor nerves about tensions between Russia and the West and the prospect of ... Read more »

Here are options if you aren't eligible for Navient's student loan forgiveness settlement

For years, many student loan borrowers have suffered under the weight of excessive debt. Some 66,000 borrowers finally got relief when the recent Navient settlement erased their balances. (Here's how ... Read more »

Ukraine insists ‘no reason to panic' as West's Russia invasion fears grow

Ukrainian officials have attempted to ease concerns about a possible Russian invasion, telling their citizens there is “no reason to panic,” despite the US and its NATO allies preparing to ... Read more »

IMF says UK should consider 'well-targeted' action on energy prices

IMF Chief Economist Gita Gopinath speaks in her office during the Spring Meetings of the World Bank Group and IMF in Washington (Reuters) – Britain should consider more support for ... Read more »

Is DatChat Stock a Buy After it Sent a Letter of Intent to Buy Avila Security?

Communications software company DatChat (DATS) made its stock market debut on Aug. 13, 2021 and has garnered significant investor attention in the wake of a letter of intent it sent ... Read more »

Vajro Secures $8.5 Million In Series A

Vajro, one of the fastest growing automated mobile app builders in the world, has raised $8.5 million in Series A round. Company handle Vajro enables e-commerce store owners and service ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic