Ukraine has right to leave Third Energy Package after support for South Stream by EU, says Ukrainian president
Support of the South Stream gas transport project by the European Union (EU) violates its liabilities to Ukraine and gives Ukraine the right to leave the EU's Third Energy Package, Ukrainian President Viktor Yanukovych has said.
"Ukraine has the full right to leave the Third Energy Package," he said in an interview with Ukrainian TV channels on Wednesday.
Yanukovych said that the South Stream with an annual transportation capacity of 60 billion cubic meters could result in the further fall of Russian gas pumping via the Ukrainian gas transport system.
He noted that gas transit via Ukraine has fallen from 120 billion cubic meters to 70 billion cubic meters.
"If they fall less than 60 billion cubic meters, the profitability of the gas transport system will be under question. We'll have losses of between 50 and 60 billion cubic meters," Yanukovych said.
