Last exports due on New Year’s Day as Europe faces cold snap and higher than usual fall in reserves since September

Europe will receive the last Russian gas sent via Ukraine’s pipelines in the early hours of the new year as the continent braces for a plunge in temperatures that could hasten the drain on reserves of the fossil fuel.

The Russian state energy company, Gazprom, is expected to cut its remaining exports to Europe through Ukraine’s pipelines on New Year’s Day as a gas-transit deal struck between the countries five years ago comes to an end overnight.