Russia may join in modernization of Ukraine’s gas pipelines in December

November16200920:42

«When the European Union offered over $1 billion for modernization, nobody said it posed a threat for Ukraine. It is just an investment, not acquisition. Then, Russia made waves, saying it was sidelined. The Russians had had grudges for several months, although Premier Tymoshenko said at the time that we can’t modernize the network without Russia’s assistance», Hudyma says.

Some practical proposals have already been made by the Russians, Hudyma says. They offered to supply their equipment as Ukraine’s pipelines are, unfortunately, more integrated in the Russian market than in the European one, Hudyma adds.

«Thus, the cabinet seeks European credits, while Russia is joining in the modernization project with its equipment and machinery», Hudyma says.

Hudyma pointed out that the law bans to privatize Ukraine’s gas pipelines. All modernization deals to be signed with Russia will be open and subject to approval by the Verkhovna Rada, he reassured.