Ukrainian President Calls for Tripartite Gas Consortium
KYIV, Ukraine, February 6, 2012 /PRNewswire/ –
The President of Ukraine Viktor Yanukovych reckoned that participation of main transit
agent (Ukraine), provider (Russia), and consumer (Europe) was vital for establishing
unified energy cooperation rules. According to the President, tripartite gas consortium
can guarantee the protection of interests of all the parties involved.
Viktor Yanukovych made the above statement during his address at the 48th Munich
Security Conference in Germany, reported the press office of the president. He noted that
Ukraine’s share of 34 percent in the consortium, while Europe and Russia get 33 each,
would ensure transparency of the gas transporting system management. Such arrangement
would provide energy partners with a platform for efficient management of their energy
issues under unified rules.
Modernization of the Ukrainian gas transporting system would be one of the main tasks
on the agenda of the gas consortium, said Viktor Yanukovych. Currently, Ukraine uses only
about two thirds of the estimated capacity of its gas transporting system, which already
supplies some 70 percent of Russian gas to Europe. Renovation of the system would allow
for the increase of the transfer capacity. It would also be beneficial since building
alternate gas transporting routes requires time, tremendous financial and human resources
as well as creates unnecessary threats to the environment, emphasized President of
Similarly to Viktor Yanukovych, the EU officials have previously stated the desire of
the Union to participate in Ukraine-Russia gas transit negotiations. On January 13, 2012,
the European Commissioner for Energy Guenther Oettinger said: “The EU is willing, if
Ukraine and Russia so wish, to enter into tripartite consultations on gas transit at any
time.” Russia has yet to address these calls from its international energy sector
Willing to introduce unified rules in energy sector management, Ukraine joined the
Energy Community treaty in 2011. The Energy Community aims at establishing a common
regulatory framework for member energy markets through extending EU standards across their
territories. Founded in 2006, it regulates energy relations between the EU and a number of
neighboring countries. Ukraine plans to guarantee its energy security and integrate into
the European energy system by joining the organization.
Ukraine also plans to widen energy security dialogue through Organization for Security
and Co-operation in Europe, which the country will chair in 2013.
SOURCE Worldwide News Ukraine