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Yanukovych: Ukraine conducts talks on gas transportation consortium creation

януковичNew opportunities for Ukraine have risen in talks on creation of a gas transportation consortium, President of Ukraine Viktor Yanukovych said in interview with representatives of Ukrainian media.

"Gas transportation system was part of "Naftogaz". This was the difficulty to create a consortium. It had to be withdrawn from the "Naftogaz". For this, it was necessary to determine the price of GTS including underground storage facilities with the help of the international audit. All that needed time. It was impossible to talk about consortium with any partners until that was fulfilled," Yanukovych said.

According to him, there were also difficulties in terms of GTS operation and its modernization.
"Our goal is to find such conditions and motivation for partners to ensure the tasks we have set. I want to emphasize that this is one of the key issues, which creates conditions for economically substantiated prices for our products, which thereby become competitive," he said.

At the same time, the President said that over the past few years, the volume of gas pumped through the Ukrainian gas transport system fell to 70 billion cubic meters.

"The volume fell to 70 billion cubic meters, by about 20 billion. It threatens the maintenance of GTS in the required condition. This is a threat to the economy of Ukraine," Yanukovych said.

According to him, to prevent worsening of the situation, Ukraine should maintain the pumping volume. "Our gas transportation system can pump 120 billion cubic meters, and even 180 billion cubic meters, if it is modernized. That is, we are interested in efficient and economically sound work of the system. We are interested in being a reliable partner for Europe and Russia," he said.