In his Wall Street Journal article, Victor Yushchenko says the compromise with Russia over gas supplies to Ukraine affirms our country’s course toward European integration and adherence to market principles, presidential press office reported.

Yushchenko adds that  “through actions rather than mere slogans Ukraine demonstrated its commitment to regional stability and ability to forge mutually beneficial economic relations.”

The importance of this settlement became all too evident for Ukrainians who for the past week had to endure double-digit sub-zero temperatures, he continues.

The Head of State believes by moving closer to market pricing mechanisms our domestic industry will be forced  to improve energy efficiency and conservation.

In the long-term, Yushchenko assures his readers, domestic market prices for energy will only enhance Ukraine’s global economic competitiveness.

“I am convinced that Ukrainian entrepreneurs will meet this challenge. Together we will develop our energy diversity, strengthen domestic gas reserves and launch a long overdue national energy conservation program,” he writes.

The President emphasizes the importance to develop domestic drilling which will help Ukraine become more energy independent.

According to his article, Ukraine is ready and open for strategic foreign investment to help facilitate these goals and develop key sectors of our economy.

Yushchenko thinks that European businesses and consumers will also benefit from the Ukrainian-Russian gas agreements because Russian gas deliveries to Ukraine have now been contractually separated from gas designated to the rest of Europe.

“Honoring these now separate agreements and their five-year terms offer consumers in both Europe and Ukraine predictability and stability,” he says.

Meanwhile, Ukraine intends to work with all gas producing countries to our east on developing and diversifying natural gas supplies to Europe in order to provide consumers with options for the future.

“The idea is to transport natural gas from Turkmenistan, Kazakhstan and other central Asian countries through new pipelines which could eventually be connected to the existing network supplying Europe,” he concludes. 


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