Ukraine lures US, Europe investors in gas pipe system, negotiates reverse gas supplies

Ukraine is negotiating larger reverse gas supplies from Europe and planning a consortium with US and European firms to modernize its gas pipeline system, parliament-appointed Prime Minister Arseniy Yatsenyuk said on Thursday.

“Our government delegation is holding talks on an increase in reverse-flow gas supplies,” Yatsenyuk told the Ukrainian parliament.
The premier also said the government was planning to establish an operator company to run the country’s gas transportation system, which pumps Russian natural gas to Europe. The Ukrainian government will hold at least 51% in the new company, Yatsenyuk said.

“The other shares may be transferred to gas transport companies from EU member countries and the US,” Yatsenyuk said, emphasizing that the country’s gas transportation system and underground gas storage facilities will remain state-owned.