Despite the construction of South and Nord Streams, Ukrainian gas transportation system remains the most reliable and cheap transit route for gas to Europe, PM Mykola Azarov declares.

"South and Nord Streams are not an alternative to our GTS. Anyway we have 150 billoin cu m of capacity, and it is the most reliable and cheap transit route for gas to Europe. Having built two gas pipelines Russia thinks that it can refuse services from our GTS, but it will never happen, because neither South nor Nord Stream have ability to storage gas. Only Ukraine has underground storage facilities," Azarov said at a meeting with members of the International club of parliamentarians and experts of EU-Ukraine.

According to the official, the construction of the South Stream is economically unbeneficial, and the project can be paid off only after 20 years. Azarov noted that the construction of this pipeline was dictated by political expediency.

The Premier believes that the modernization of Ukrainian GTS is advantageous for all sides: Ukraine, Russia and the EU.


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