Following the failure of the Nord Stream 2 project, which came under U.S. sanctions and did not receive regulatory benefits from the German Federal Network Agency, a key operating pipeline for gas exports to the EU came under attack.
On May 17, the contract for the transit of Russian gas through Poland via the Yamal-Europe pipeline, which pumps 33 billion cubic meters, or almost a fifth of all supplies to the European Union, expires.
The transit agreement was concluded in the 1990s, when Gazprom and Poland’s PGNiG formed a joint venture, EuRoPol GAZ with each company owning 48%. Warsaw does not plan to extend the contract, the operator of the Polish gas transmission system Gaz System announced last summer. From now on the pipeline’s capacity will be sold at numerous auctions.
Source: Energy Market Price
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