EBRD may take part in forming Russian-Ukrainian gas transporting consortium

The European Bank for Reconstruction and Development is ready to examine its possible participation in a project to set up a Russian-Ukrainian gas transporting consortium, EBRD President Jean Lemierre said in Kiev on Friday, after a meeting with Ukraine's Prime Minister Viktor Yanukovich.

According to Lemierre, "it is too soon to speak of the bank's concrete position and role in its /project's/ realisation." "This project is very important for Ukraine and Russia and many gas companies, and we are ready to consider our participation when the time suits us," the EBRD president said.

He announced his intention to discuss the EBRD's participation in the project with the bank's "other partners." It is not until then that the bank president will be able to explain what the bank's position and role may be, reports Rabochaya Gazeta.

In the opinion of observers, the EBRD may act as a creditor or one of the consortium's shareholders.

Russia and Ukraine have established the international consortium to manage and develop Ukraine's gas transport networks on a parity basis.

Later, the German concern Ruhrgas was invited to take part in talks in a three-way format.

On a mutually beneficial basis the consortium will transport gas and see to it that Ukraine's gas transporting system functions safely and stably.