On Friday, October 1, Russia's gas monopolist Gazprom has ceased the gas transit across Ukraine to Hungary. Press office of the operator of gas transportation system of Ukraine reported that on October 1.
"On October 1, 2021, since the beginning of the new gas day (7 a.m.), the transit of natural gas across Ukraine to Hungary has been suspended. There were no bidding for teh gas transit, in spite of the fact that the gas putput has been contracted for the entire gas year (October 1, 2021 to September 30, 2022) in the amount of 24600000 cubic meters per hour", he said.
On September 27, it became known that Hungary signed a new long-term gas deal with Russia's Gazprom. The document foresees that the gas transit will now bypass Ukraine.
Ukraine's foreign ministry claimed it was disappointed by that decision. Later, Ukraine's Foreign Minister Dmytro Kuleba called the contract a blow to Ukraine-Hungary relations.
According to Bloomberg, the European gas storages are full only partially, and the renewable energy sources cannot satisfy these demands.
"If all the European utilities switch to coal, it will result in a huge spike in coal demand that Russia alone cannot provide for on such a short notice. That would need supply from other countries as well, from the U.S. for example, but the situation there is similar to everywhere else", said Natasha Tyrina, a principal research analyst at Wood Mackenzie Ltd. in Houston, TX.
The agency claims that Europe's dependence on the Russian gas, which it needs to support the work of its economy, largely complicates negotiations on the critical matters of the climate. It's only several weeks before the scheduled COP26 meeting in Glasgow.