Russian gas flows to Europe via TurkStream remain at sustained high in Jan

Russian gas flows to Europe via the TurkStream pipeline remained at a sustained high in January, with deliveries amounting to 1.61 Bcm, a data analysis showed Feb. 2.

Deliveries to Europe via TurkStream at the Strandzha 2 entry point on the Turkey-Bulgaria border averaged 52 million cu m/d in the month, the analysis, based on ENTSOG data compiled by S&P Global Energy CERA, showed.

That is on a par with the record deliveries registered in December 2025.

The 15.75 Bcm/year-capacity European string of TurkStream remains the sole pipeline route for Russian gas supplies to Europe after Ukraine halted Russian gas transit at the start of 2025, following the expiry of its five-year transit agreement with Moscow at the end of 2024.

Total deliveries via TurkStream in 2025 topped the pipeline's nominal capacity, reaching 16.8 Bcm, the data showed.

Supplies were also 8% up on the delivery total at Strandzha 2 in 2024.

Hungary and Slovakia, as well as non-EU Serbia, are among the primary recipients of gas via the TurkStream pipeline, with the countries maintaining relatively close ties with Moscow.

Russian gas via TurkStream can also be delivered to Romania, Greece, North Macedonia, and Bosnia-Herzegovina and Herzegovina.

Bulgaria's Bulgargaz was cut off from Russian gas supplies in April 2022. However, in May 2024, government officials said Russian gas had returned to Bulgaria through "intermediary" companies.

Bulgaria and Serbia also play key roles in the onward transit of Russian gas via TurkStream to Hungary and Slovakia.

Slovakia -- which saw its Russian gas imports suspended in January 2025 after Ukraine's transit deal with Russia expired -- began importing gas via TurkStream in February 2025.

Hungary agreed a 15-year deal with Gazprom in September 2021 for 4.5 Bcm/year and also imports additional volumes.

Hungarian foreign minister Peter Szijjarto said in late November that Hungary had already received more than 7 Bcm of Russian gas in 2025.

Serbia deals

Serbia, meanwhile, continues to import Russian gas via TurkStream under a series of temporary contract renewals.

Serbian President Aleksandar Vucic said Dec. 23 that it had signed a new agreement to extend its Russian gas import arrangements until the end of March 2026.

It is the latest extension to Serbia's gas import deal with Russia's Gazprom, which had been set to expire at the end of May 2025.

Serbia had been seeking additional volumes and supply flexibility in a new long-term agreement with Gazprom, with talks continuing through 2025, but despite Belgrade's request for a new term deal, Gazprom offered only short-term extensions.

The existing agreement provides for the delivery of 2.2 Bcm/year -- equivalent to about 6 million cu m/d -- at 100% oil-indexed prices.

This arrangement allowed Serbia to pay less for gas than it would have if the price were indexed to European hubs.

Platts, part of S&P Global Energy, assessed the benchmark Dutch TTF month-ahead price on Jan. 30 at Eur40.69/MWh.