Gazprom Confirms Ukraine to Suffer Transit Losses to Nord Stream
Speaking in Brussels, Gazprom CEO Alexei Miller, confirmed the obvious but yet previously upspoken.
Miller said that approximately 20 billion cubic metres of gas would be diverted from transit to Europe via neighbouring Ukraine to the Nord Stream gas pipeline.
The statement comes just three months after Miller assured both Ukraine and Belarus that Nord Stream would not threaten their gas transit volumes which provide both nations with significant transit revenues.
"You, my friends, understand everything," he told reporters, when asked whether Russia would divert gas from the Ukraine transit network to Nord Stream. He then clarified that the volume would be about 20 bcm, or just under one-fifth of what the country transported to Europe last year.
Ukraine will see the loss of further gas transit revenues in its future should the proposed South Stream gas pipeline project proceed.
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Nord Stream to Have Major Revenue Impact on Ukraine