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Ukrainian Prime Minister to derail South Stream

19.06.2014 15:14

The creation of a single operator for Ukraine’s gas transport system, with investors from the US and EU, could render construction of the South Stream pipeline unnecessary, Ukrainian Prime Minister Arseniy Yatsenyuk said Thursday.

“This will give us the possibility to have new conditions for transporting Russian natural gas. This will give us the ability to halt the construction of South Stream and direct all [gas] volumes that were planned for the South Stream [pipeline] through Ukraine because, first and foremost, this will be in the interests of EU member states,” Yatsenyuk said during a Ukrainian parliamentary session.

Ukraine’s prime minister presented a draft law to the country’s parliament that would allow the government to create a gas transit network operator, with 49 percent owned by US and EU investors. The draft law provides the operator with management and/or concession or rent rights for the major pipelines and underground storage units.