Energy Headlines

Ukraine is relaying upon support of European banks in the form of credits, which will be directed to payment for the natural gas to be pumped into underground gas storages of Ukraine in the spring-summer period. The Prime Minister of Ukraine Yulia Tymoshenko announced during a press conference in Luxembourg on the outcomes of the 13-th sitting of Ukraine-EU Cooperation Council.

According to Yulia Tymoshenko, issues of gas shipment to Europe and stable functioning of gas transport system of Ukraine were considered during the Council’s sitting, and also during the meeting with Eurocommissioner for External Relations and European Neighbourhood Policy Benita Ferrero-Waldner.

The Premier underlined for Ukraine it is principal to pump up natural gas into storages: “Pumping of Russian natural gas into Ukraine’s gas storages is of great importance for Ukraine and Russia on one hand, and for Eurounion on the other.

Yulia Tymoshenko explained to fulfill this task Ukraine needs to cover with credits temporary cash gaps, in the amount of USD 4 billion. According to her, hit by the crisis banking system is not capable of quick response to cover such huge financial needs: “That’s why a possibility to take loans from European banks is being considered with an aim to cover cash gaps and ensure pumping up of gas into the storages,” the Premier clarified the situation. Yulia Tymoshenko hopes Ukraine will receive such support.

Source: Government Portal