Russia’s Deputy Prime Minister Alexander Novak has announced plans to supply gas to Europe while bypassing Ukraine. This comes as Ukraine’s President Zelensky refuses to extend the gas transit deal set to expire on December 31, calling it “blood money.” With Europe reliant on Russian gas, especially Slovakia, Hungary, and Italy, the stakes are high. Russia is exploring alternatives like TurkStream and LNG shipments, but EU sanctions and the rise of American LNG complicate the picture. Will Europe sever ties with Russian gas for good, or remain caught in the energy game? Let’s explore the implications.
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FunTranscript
00:00Big moves in the global energy game.
00:02Russia says it's ready to supply gas to Europe,
00:05but this time bypassing Ukraine.
00:07What's driving this major shift?
00:09Let's dive in.
00:10On December 25, Russia's Deputy Prime Minister,
00:13Alexander Novak, announced plans for alternative gas
00:17routes to the EU.
00:18This comes after Ukraine's President Zelensky firmly
00:22rejected extending the current gas transit deal,
00:24set to end on December 31.
00:27Zelensky made it clear.
00:29Ukraine won't let Russia profit from what he called blood money.
00:32But this decision has stirred concerns in Europe,
00:35especially for countries like Slovakia, Hungary,
00:38and Italy, heavily reliant on Russian gas.
00:41So, what's next?
00:43Russia is betting on alternatives
00:45like the TurkStream pipeline, liquefied natural gas
00:48shipments, and a potential gas hub in Turkey.
00:51But with the NordStream pipeline out of commission since 2022,
00:54the stakes are high.
00:56Russia claims its gas is cheaper than alternatives,
00:59but EU sanctions and the push for American LNG
01:02tell a different story.
01:04The energy tug-of-war continues.
01:06Will Europe turn away from Russian gas for good,
01:09or remain caught in the supply game?