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US and Germany want gas hub in Ukraine
Russia Today ^ | 02 July 2014

Posted on 07/03/2014 5:56:47 PM PDT by Lorianne

German and US companies want to start using Ukraine as a gas hub, according to Aleksandr Todiychuk, Deputy Chairman of the country’s national oil and gas company Naftogaz.

“For them [Germany and the US] it’s an opportunity to gain a foothold in the region. Our underground gas storage is interesting for both sellers and buyers of gas. This is why potentially everybody who’s interested in creating a hub, are talking about our high potential in this field,” Todiychuk said in an interview with the Russian daily Kommersant.

Gazprom, the world’s largest producer of natural gas, has stopped using Ukraine as a transit route for gas deliveries, worried the indebted country will start to siphon off deliveries intended for Europe. Because of its $4.5 billion debt,

Gazprom switched Ukraine to a prepayment system in June. Europe depends on Russian gas via Ukraine for 15 percent of its energy needs.

Ukraine borders seven European countries - Belarus, Poland, Slovakia, Hungary, Romania, Moldova, and Russia. Its location on the Black Sea also creates a water border with Bulgaria, Turkey, and Georgia.

(Excerpt) Read more at rt.com ...


TOPICS: Business/Economy; Foreign Affairs; Russia
KEYWORDS: gazprom; germany; natgas; russia; ukraine

1 posted on 07/03/2014 5:56:47 PM PDT by Lorianne
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