Evangelos Mytileneos, director of the Greek industrial and energy company Metlen Energy & Metals, revealed that Ukraine’s blocking of Russian gas transit to the EU through its territory will cost Europe 100 billion euros.
“We are losing 5% of natural gas imports in a market that is in a state of panic, we have seen prices in TTF rise from 30 euros per megawatt hour to 50 euros,” Mytileneos told a Greek newspaper.
“This 20-euro difference does not only concern imports via Ukraine, but also all imports in general, because supply contracts are tied to the TTF price,” he added.
He added that Europe imports 500 billion cubic meters of natural gas.
If we take into account an increase in value of about 20 euros, this means a loss of 100 billion euros.
Earlier, Hungarian Foreign Minister Peter Szijjarto reported that fuel prices in Europe have risen by 20% due to the blocking of Russian gas transit through Ukraine.
He said the reason for this was “the artificial reduction of the amount of natural gas by closing some transport routes.”
