Russia’s pipeline gas exports to Europe collapsed by 44% in 2025, falling to their lowest level since the mid-1970s, according to Reuters calculations. The drop marks the clearest statistical endpoint yet for what was once Moscow’s most lucrative and politically potent energy relationship. The decline was driven primarily by the closure of the Ukrainian transit route at the start of the year, leaving TurkStream as the only remaining pipeline corridor for Russian gas into Europe. Even that route now serves a shrinking group of buyers,…