Ukraine to draw USD 2.57 bln for GTS modernization, Yushchenko says

Ukraine is planning to draw USD 2.57 billion of investments for reconstruction of its gas transportation system, President Viktor Yushchenko told a press conference in Brussels, venue of the international conference on modernization of the Ukrainian GTS, the presidential press office reported.

According to Yushchenko, the bulk of the sum will be channeled for reconstruction of pipelines, USD 455 million for reconstruction of underground gas storages, and USD 63 million for reconstruction of measuring stations. “This project is Pan-European. Its result is strategic for the European gas market, the role and mission of Ukraine on that market,” the head of state noted.

The President emphasized that the format of the Ukraine - EU talks is determined by the objectives on which the Ukrainian party insisted, specifically the reliability and standards of the gas transportation system work. Yushchenko also said the talks were devoted in the first place to the problems of gas transit, rather than its delivery.

Yushchenko admitted that the question of alleged non-reliability of the Ukrainian gas transportation system was initiated before the European Union, particularly, in order to sweep away fantasies over the issue. In his words, vast European opportunities were also taken into account, including financial, for reform of the Ukrainian gas transportation system. The President confirmed that Ukraine views integration of her gas transportation system with then European one as one of the fundamental items of its eurointegral external policy.

President Yushchenko also said in Brussels that Ukraine would not oppose to other formats of negotiations on natural gas supply to Europe within the framework of other investment forums. “Ukraine does not object to the format of harmonization of interests of the producer, carrier and consumer in a broader context, within the framework of other investment forums. We are open to this dialogue,” he said, UKRINFORM reported.

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