Prime Minister Yulia Tymoshenko has called on foreign investors to tie up money in the Ukrainian gas transit system (GTS), she has addressed the European People's Party (EPP) Congress, National radio reported.

"We are today starting to build cooperation with the European Union on the construction and modernization of the gas transit system that may become a subject of attracting investments," she said. Tymoshenko underlined that the Ukrainian GTS can transport a considerably higher volume of 'blue fuel' and not just from Russian gas fields.

"However, in order to implement this in practice it is necessary to consolidate investment capacities of those European countries that are interested in such diversification," the Ukrainian Premier underscored. According to the Cabinet of Ministers, an approximate volume of investments needed for the GTS modernization is USD 2.57 billion.

The Ukrainian gas transit system annually delivers around 75 billion cubic meters of natural gas for domestic consumers and 110-120 billion cubic meters for consumers in 19 European states.


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