Reported 26 days ago
European gas buyers are close to finalizing a deal with Azerbaijan to ensure continued gas flow to Europe following the expiration of the Russia-Ukraine transit agreement. The contract, which could secure 12-14 billion cubic meters of gas annually, would require a swap agreement with Russia, as Azerbaijan lacks the capacity to fully replace existing supplies. This arrangement aims to stabilize gas prices amid market volatility and maintain transit fees for Ukraine, which have been significant for its economy.
Source: YAHOO