Ukraine and Russia Find Common Ground for Stable Transit to Europe

Ukraine and Russia found a common ground to ensure stable transit of natural gas to Europe, said Ukraine’s Deputy Prime Minister Yuriy Boyko on Tuesday.

According to his declarations given to Chanel 5, NAK Naftogas Ukrainy and OAO Gazprom  have come to a “mutual understanding.” The two companies found a way out of their dispute about gas storage in Ukraine. Frictions between the two countries came to the surface in 2009, when disputes disrupted flows to Europe.

The two companies found a shared position in occasion of a recent meeting between Ukraine’s Prime Minister Mykola Azarov and Russia’s counterpart Dmitry Medvedev, said Boyko.

On Wednesday, Naftogas Ukrainy Head Yevhen Bakulin told reporters that “nine billion cubic meters (bcm) gas is now stored in underground storage facilities.” The country planned to store up to 16 bcm by the end of the summer.

Ukraine's government is keen to produce locally to ease dependence on Russia. Ukraine also continues to make ambitious plans to decrease national energy consumption, switch its power stations from natural gas to coal, build an LNG terminal, and open reverse flows of gas from Europe.