Tension Rises: Is Gas Crisis at the Door Again?

europe, slovakia, ukraine, russia, turkey, china - Slovakia threatens Ukraine over gas transit, causing concerns in Europe. The possibility of gas supply disruption between the two countries raises alarms.

Slovakia's Prime Minister Robert Fico warned Ukraine that they may stop electricity supply if gas transit from Russia is blocked after January 1st. Fico also expressed Slovakia's readiness to host peace talks between Ukraine and Russia.

The transit of Russian gas through Ukraine to Slovakia could cost the EU 120 billion euros in the next two years, according to Fico. He also mentioned the potential loss for Slovakia of up to 500 million euros annually.

Meanwhile, Ukraine announced that it would not allow Russian gas to pass through its territory starting from January 1st. The Urengoy-Pomari-Ujgorod Pipeline, which carries gas from Siberia to Europe via Ukraine, is at the center of the dispute.

The importance of the Turkish route for gas transportation to Europe is increasing, as alternative routes face challenges. The TurkStream project has played a significant role in diversifying gas supply to Turkey and Europe.

Gazprom, Russia's largest gas company, is seeking to expand its markets in response to the loss of its European market share. The company is focusing on exporting gas to China and developing the Turkish route.