Ukraine gives reason for allowing Russian gas transit despite war

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Ukraine gives reason for allowing Russian gas transit despite war
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Oleksiy Chernyshov—the CEO of the state-owned Naftogaz energy giant—told Newsweek that Kyiv isn't happy with the situation.

EU nations are cutting their reliance on Moscow, having halved natural gas imports from a monthly average of about 5.6 million tons to around 2.7 million tons from the second quarter of 2022 to the same period this year.

The EU has a plan to phase out all Russian natural gas by 2027. Chernyshov suggested this is too slow."We would welcome that this would happen earlier," he said. Floating Storage Regasification Unit ship"Hoegh Esperanza" docks at the liquefied natural gas terminal at the port of Wilhelmshaven, Germany, on December 15, 2022. Europe's pivot away from Russian natural gas is being hindered by a lack of LNG terminals.The challenge is more daunting for central European nations without access to LNG terminals at large ports.

"It is not a problem that the European Union consumes gas," he said."This leads to economic growth and other things: you cannot develop your economy without energy. It's so important. I think the opportunity for Ukraine is to become, in a way, a 'power bank' of energy for the European Union." Naftogaz CEO Oleksiy Chernyshov. The executive told Newsweek he wants Ukraine to become the EU's"power bank" as the bloc weans itself off of Russian fossil fuels."The sky's the limit," Chernyshov added."Ukrainian potential is extraordinary." But Kyiv will need help.

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