Ukrainian gas pipeline network operator, Operator GTS Ukrainy (Tsoua), has approved a plan to wind down transmission capacity despite its business booming this year.

Speaking in interview to UK-based Platts energy news service, chairman Makogon said Russian gas monopoly Gazprom is not expected to sign a new gas transit agreement after the current one expires on 31 December 2024.

“Compressor stations have been identified that will be liquidated”, he said. “We will need to decrease our [transportation] capacity to cut our costs because we understand that in five years [shipping tariffs have to remain competitive]."