The European Parliament and the Council have reached a provisional political agreement to effectively and permanently stop the import of russian gas and move towards the full phaseout of russian oil.
According to the European Commission, the agreement ensures a permanent end to russian gas imports, with LNG phased out by 31 December 2026 and pipeline gas by 30 September 2027. This legislative clarity provides the certainty businesses need to accelerate the transition to alternative, reliable energy sources. SCM welcomes this decision as a necessary step to guarantee Europe’s competitiveness, resilience, and market stability.
Operationalising Energy Independence
While policy frameworks are essential, physical integration is what secures energy supply. SCM is already executing the logistics required to replace russian volumes. Through our energy business, DTEK, we recently achieved a milestone by delivering its first US-sourced LNG cargo into the region via the “Northern Corridor”.
The shipment of 160,000 cubic metres of LNG (equivalent to 100 million cubic metres of gas), which arrived on 17 November onboard the Gaslog Houston from Louisiana, was managed by D.TRADING on an FOB basis. This volume, equivalent to 1 TWh of energy, is now supplying Ukraine, the Baltic states, and Poland, demonstrating that the Northern Corridor is a viable route for American energy to reach Central, Eastern and South Eastern Europe.
A Strategic Vision for Transatlantic Partnership
This initiative is not an isolated commercial transaction but part of a broader strategy to deepen ties between the US and Ukraine. Maxim Timchenko, CEO of DTEK, emphasised that US LNG is key for the energy independence of both Ukraine and Europe.
The arrival of this cargo is the realisation of a long-held strategic objective. In the words of the company’s CEO:
"This latest shipment reflects the vision of our shareholder Rinat Akhmetov for DTEK to be an energy bridge uniting US producers and a region that remains too dependent on russian gas".
Ukraine as Europe’s Energy Hub
The EU’s decision to ban russian imports highlights the urgent need for robust alternatives. Ukraine is uniquely positioned to fill this void, not only as a transit corridor for LNG but as a producer and battery for the continent.
Ukraine possesses substantial gas production potential and the largest underground gas storage facilities in Europe. These assets allow Ukraine to absorb surplus supply during periods of low demand and release it when Europe needs it most, acting as a guarantor of regional energy security.
By combining the developing Southern Vertical Gas Corridor and the Northern Corridor with Ukraine's immense storage and production capacity, we are creating a resilient, diversified energy network. SCM remains fully committed to this integration, ensuring that as the EU closes the door on russian fossil fuels, a new door opens to a secure, shared energy future.
