The European operator has recovered from the loss of Russian gas and is charging Gazprom a debt

The stop of the Ukrainian transit of Russian gas has improved the affairs of the Czech operator NET4GAS, which was at a loss after the termination of supplies via Nord Stream. The company has won two arbitration proceedings in the EU against Gazprom and continues to charge it debts for the contract, which will end in 2035. The Russian company is contesting in the Arbitration Court of St. Petersburg.

NET4GAS reports that in 2025 it recovered after stopping the transportation of Russian gas, which was coming from Nord Stream in transit through the Czech Republic back to Germany.

"We have managed to significantly reduce debt, transit flows have recovered, and at the same time we have made progress in preparing the company for a low-emission future...," said Michal Slaby, Executive Director of NET4GAS.

The main event for the operator was the stop of the Ukrainian transit of Russian gas, which forced Ukraine, Slovakia and Poland should buy alternative gas and import it through the Czech Republic.

"A positive signal was the significant restoration of international gas transit through the Czech Republic. If transit practically stopped in 2024, then in 2025 it increased to 1.3 billion m3. Deliveries to Poland and Slovakia has increased significantly, among other reasons due to the termination of the transit of Russian gas through Ukraine. The total volume of gas supplied reached 11.2 billion m3, which corresponds to an annual growth of more than 2.5 billion m3," NET4GAS reports.

Thus, NET4GAS revenue increased in 2025 to 6.5 billion Czech crowns, and net profit amounted to 3.1 billion Czech crowns ($ 148 million).

This is the first year after the Nord Stream supplies were stopped, when the Czech operator made a profit. Net4Gas reported in its annual reports that in 2021 gas transit through the Czech Republic amounted to more than 42 billion cubic meters, and in 2023 and 2024 it fell to 1 billion cubic meters and below. Accordingly, the company's profit in 2021 amounted to $ 294 million, and in 2024 — just over $ 400 thousand. In 2023, the company generally suffered losses of $ 26 million. Then it was acquired by the state-owned CEPS.

Deliveries via Nord Stream stopped on August 31, 2022, and on September 26, a terrorist attack occurred on the gas pipeline, which completely took the gas pipeline out of operation. Russia to Germany out of order and made unnecessary the gas pipeline "Gazelle" on the territory of the Czech Republic to Germany. On January 4, 2023, the Czech operator announced that payments under the contract for gas transit had stopped and, despite damage to the Baltic gas pipeline, submitted Gazprom to arbitration in the EU. There, the company won two trials in 2024 and 2025.

"A favorable decision allows the group to consider further actions to recover the amount owed. As the main customer continues to violate the terms of monthly payments, it is unlikely that the situation will change in the short term and the accounts receivable will be repaid," NET4GAS said in its annual report.

Gazprom believes that decisions in international arbitrations will not be fair in the current conditions and refuse to recognize them. The company tried to stop the arbitration proceedings through the prohibitions of the Arbitration Court of St. Petersburg and the Leningrad Region, which imposed a fine of 113 million euros. However, the Czech operator did not give up the desire to receive compensation.

The other day, Gazprom again filed a lawsuit with the Arbitration Court of St. Petersburg.