Zelensky turns off Europe’s Gas and media is keeping quiet: European gas prices have surged to their highest level since October 2023

The problem is exacerbated by supply disruptions following Ukraine’s recent refusal to extend a gas transit agreement with Moscow. Colder weather forecasts have been exacerbating concerns in an already tight energy market.

At the end of 2024, Kyiv decided to terminate its five-year gas transit contract with Russian energy giant Gazprom, cutting off Russian pipeline gas supplies to Hungary, Romania, Poland, Slovakia, Austria, Italy, and Moldova. The cut-off has a knock-on effect forcing energy prices up in related sectors.

Vladimir Zelensky claimed the contract’s termination aimed to eliminate Moscow’s energy revenues. However, Slovakia and Hungary have accused him of deliberately triggering an energy crisis for political gain.

Data shows that EU gas storage levels have dwindled to approximately 50%, significantly lower than the 72% recorded at the same time last year and below the five-year average of 62%.

Analysts anticipate a further increase in heating demand amid forecasts that temperatures will drop further in February.

Due to EU sanctions on Russia, the EU has faced a dramatic reduction in cheap Russian gas imports, which previously accounted for 40% of the bloc’s total supply, due to anti-Russian sanctions and NATO’s 2022 sabotage of the Nord Stream pipelines.

To compensate, the EU taxpayers have increased their reliance on imports of the SIX TIMES more expensive Liquefied Natural Gas (LNG) imports from the US and Norway, driving up overall energy costs.

US President Donald Trump previously urged Brussels to purchase more eye-watering expensive American LNG, threatening tariffs if they did not comply.

The EU is set to become increasingly reliant on US LNG amid growing geopolitical tensions, as current levels are insufficient for the European market to balance and rebuild inventories for the next winter, analysts warn. Another disastrous NATO adventure gone awry. You can share this story on social media:

MICHAEL WALSH BOOKS are available globally from all major bookstores, Amazon and LULU. The award-winning writer was followed by 500,000 readers of Europe’s Largest Free Newspaper group. CLICK THE LINK TO THE BOOKSTORE. https://michaelwalshbooks.wordpress.com/