PM: Nord Stream cuts Ukraines proceeds by 15% from gas transit.

By bne IntelliNews May 28, 2012
Russia's launch of the Nord Stream gas pipeline has deprived Ukraine of 15% of its proceeds from gas transportation across its territory, believes PM Mykola Azarov. Azarov stressed that it is unfair that Ukraine pays Russia twice as much for gas as Germany does. The first branch of the Nord Stream Russian-German gas pipeline was brought online last November. The second phase is slated for launch this fall. Both branches have a combined design capacity of 55bn m3 per year. Nord Stream is filled with gas taken from transit volumes from the Ukrainian corridor. In Q1, gas imports declined by 52.3% y/y to 8.5bn m3, the State Statistics Service has announced. In March, imports of gas into Ukraine reduced by 57.04% to 2.4bn m3. The entire volume of gas was imported from Russia. The average import price in March was USD 421.16 per 1,000 m3.

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