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Ukraine may propose alternative to South Stream

      RBC, 27.07.2010, Kiev 17:48:25.Ukraine has come up with an alternative to Russia's South Stream gas pipeline project, Ukrainian Prime Minister Nikolai Azarov announced at a press conference today. "We have recently come up with yet another idea, and it is an alternative to South Stream," he explained. Azarov indicated that the modernization of Ukrainian gas pipelines would allow for supplying the same amount of gas to the same point in Europe - the city of Burgas in Bulgaria - as Russia intends to supply using the South Stream project. "This project is still merely a technical proposal, so it is too early to view it as a serious project," Azarov said.

      The prime minister believes that the EU is still interested in creating a gas transporting consortium on the basis of Ukraine's backbone gas pipelines, and as he noted, "Ukraine is very interested in this development, since we need funds for the modernization of Naftogaz and the gas transporting system." He also pointed out that the lack of progress in the consortium's creation could be traced to the fact that his government had only been functioning for four months.

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