Ukraine has proposed that Russia and the European Union build a new gas pipeline across its territory to increase Russian gas transit to Europe, President Viktor Yanukovych said on Friday.
"As far as the gas transportation system is concerned, we have our own concept, which we proposed to our partners in the EU and Russia," Yanukovych said at a news conference.
"This concept envisions the establishment of a joint EU-Russian-Ukrainian company to build a gas pipeline across Ukrainian territory, which would ensure extra gas transit to Europe."
Ukraine accounts for 80% of Russian gas transit to EU nations. Kiev has been trying to persuade Moscow to abandon the idea of building the South Stream gas pipeline, which would significantly reduce gas transit volumes through Ukrainian territory.
Yanukovych said his proposal should be attractive to Russia and the EU.
"We are waiting for an answer from our partners," he said.
He added that Ukraine is also ready to modernize its gas transportation system with EU and Russian participation.
Yanukovych stressed that Ukraine has been and will remain a reliable transit nation for hydrocarbons pumped from Russia to Europe.
Ukraine's gas network, which includes more than 37,500 kilometers of pipe plus 71 compressed air plants and 13 underground gas storage facilities, pumps 141 billion cubic meters of gas to Europe a year.
Modernization costs have been estimated at $15 billion to $20 billion.
KIEV, July 2 (RIA Novosti)
