Russia, Ukraine, Germany to provide Europe with gas

An international gas-transportation consortium consisting of Russia, Ukraine, and Germany will provide Europe with additional gas. At a meeting in Kiev, the national stock company Neftegaz Ukraine, the Russian public corporation Gazprom, and the German company Rurgaz agreed on the terms of a trans-European business project unifying a base of resources, transportation possibilities, and marketing outlets for natural gas.

The press service for Neftegaz Ukraine informed a Rosbalt correspondent that the parties agreed on the creation of a transportation corridor that will supply by 2010 an additional 20 billion cubic meters of gas to the European market. In addition, Gazprom will raise its volume of gas supplied to the Ukrainian gas transportation system to 20 billion cubic meters, Neftegaz Ukraine offers a group of services for transportation and storage of natural gas, and the German side offers market outlets.

Neftegaz Ukraine and Gazprom registered in January 2003 in Kiev as a consortium on equal footing with a public corporation with 1 million dollars in capital funds.