The Verkhovna Rada sped up the modernisation of the gas transportation system and the “death of the South Stream” 


The Verkhovna Rada speeds up the modernisation of the Ukrainian gas transportation system which may allow to suspend the construction of the “South Stream.”

246 members of the Parliament voted on the inclusion of the according bill prepared by the Cabinet of Ministers into the daily agenda.

According to Prime Minister Arseniy Yatseniuk, who reported on this bill in the Rada, Ukraine necessitates significant financial investments in its energy sphere.

He assures that the “Ukrainian gas transportation system remains state property… Ukrainian stocks remain state property.”

“According to the demands of the Third Energy Package, an operator company is created. The control package of stocks of this company belong exclusively to the state of Ukraine. 49% of the shares of this company may belong exclusively to the gas transportation companies of EU countries, which are members of the Energy Community, and the US,” explained Yatseniuk.

According to him, this may give us an opportunity to modernise and invest in the Ukrainian gas transportation system.

“This allows us to increase the capitalisation of the Ukrainian gas transportation system which will remain state property. This gives us an opportunity to have new conditions of transportation for Russia gas and suspend the construction of the “South Stream’,” stated the Prime Minister.

The Rada has included this bill to the agenda, under the condition that all companies that will contend for the government of the gas transportation system undergo public discussion.

Source: Ukrayinska Pravda

Translated by Mariya Shcherbinina


Enjoy reading Euromaidan Press?  Become a patron and help us reach even more international readers!

Being a patron means you care about quality independent journalism, believe in an independent and democratic Ukraine, and like to look deep. And you can also vote for future articles, suggest topics, and keep in touch with the team.

For as little as the cost of one cup of coffee a month, you can help us stay afloat and do more. 

Become a patron>>> 

Tags: , ,