Business news from Ukraine


Transit of natural gas through the gas transmission system (GTS) of Ukraine in January-August 2020 amounted to 34.8 billion cubic meters., which is 42% less than in the same period in 2019 (59.6 billion cubic meters).
According to the report of Gas Transmission System Operator of Ukraine LLC (GTSOU), 32.4 billion cubic meters of gas were transported in the western direction (Slovakia – 23.9 billion cubic meters, Hungary – 5.9 billion cubic meters, Poland – 2.6 billion cubic meters), which is 36% less than in January-August-2019, in the trans-Balkan region – 2.3 billion cubic meters (Moldova – 1.87 billion cubic meters, Romania – 0.46 billion cubic meters), which is 73% less than last year in this direction.
Despite a significant drop in transit compared to last year, Gazprom (Russia) fully pays for the transit capacity booked for this year (178 million cubic meters per day), which it used by 80% in January-August.
“For its part, GTSOU fulfills all daily requests and will continue ensuring uninterrupted gas transportation to European countries in the future,” the company said.

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Ukrainian President Petro Poroshenko has warned Germany against participation in the Nord Stream 2 gas pipeline project, suggesting, as an alternative, the modernization of a transit gas pipeline passing through Ukrainian territory.
In an interview with German business newspaper Handelsblatt, extracts from which were published by the Ukrainian service of Deutsche Welle, Poroshenko noted that Nord Stream 2 was a political project that is financed by Russia and has no economic justification.
“Nord Stream 2 is a political bribe for loyalty to Russia, imposing an economic and energy blockade on Ukraine, which will hurt us greatly,” he said.
According to him, an alternative solution is the modernization of the existing transit gas pipeline that passes through Ukraine. Poroshenko also said that the development of the gas transportation infrastructure in Ukraine would not require multibillion investments.
On March 27, Nord Stream 2 AG received the permit for the construction and operation of the Nord Stream 2 pipeline system in the German exclusive economic zone (EEZ). The Nord Stream 2 gas pipeline is to pass across the Baltic Sea, connecting Russian suppliers with European consumers at over 1,200 km in length. The pipeline will have capacity for 55 billion cubic meters of gas per year. The project has an estimated cost of almost 10 billion euros. Gazprom’s partners in the project are Engie, OMV, Shell and two German companies BASF and Uniper.
In early April, the Verkhovna Rada urged foreign parliaments, governments and the international business community not to participate in the preparation, financing or lobbying of the construction of the Nord Stream 2 gas pipeline.

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