Ukraine's pipelines will lose 50% of value when South Stream starts - Naftogaz head

RT ^ | 29 July 2014

[Lorianne]

The South Stream gas pipeline, which bypasses Ukraine, may halve the value of Ukraine’s gas transportation system (GTS), according to Andrey Kobolev, head of Ukraine’s national oil and gas company Naftogaz.

After the Russian–led South Stream project is complete and working at full capacity, the value of Ukraine’s GTS may fall as much 50 percent from the present estimate of $25-$35 billion, RIA Novosti quotes the head of the company.

“We have no wish to lose it, and it’s unreasonable," Kobolev said on a Ukrainian local TV channel.

Construction of the South Stream pipeline in Bulgaria and Serbia was suspended following pressure from the EU to comply with competition law. After a while construction resumed.

"They [Gazprom] are ready to invest their own 15 billion euro in South Stream construction … This gas pipeline will take away from the Ukrainian transit potentially up to 60 billion cubic meters. Currently the transit carries 86 billion cubic meters," Kobolev said.

Previously 110-120 billion cubic meters were fed through Ukraine, but now the Nord Stream pipeline has taken a share of it, Kobolev explained, and concluded that once South Stream is operational Ukraine could be in a very difficult situation.

[caww]

Interesting studying these various maps on oil pipelines....they ‘hard wire’ nations as nothing else does. Billions in investments and not easily undone or ignored as trade agreements etc.

[free_life]

Didn’t you hear RT is an official FR news source now for the Putinista’s and Putin is the great hope of the future for FR Puntinista’s.

We are to overlook the invasions and countless dead who pave the way to victory for Putin and adoring Russian scum here who wrap themselves in the bloody Russian flag.

Don’t worry Putin is our friend, the dead he has slaughtered are the enemy.

Something shifted here to this soviet doctrine group-speak and it is not to be challenged to strongly.