The reservation by Ukraine of the Vojany-Uzhgorod pipeline, which is used to supply gas from the European Union (EU) to Ukraine, for five years, will bring around $300 million into Slovakia, the Business Director at the national joint-stock company Naftogaz Ukrainy, Yuriy Vitrenko, has told Interfax-Ukraine.

"The reservation of the Vojany-Uzhgorod pipeline for five years will bring some $300 million to Eustream. Investment in the realization of the project could be estimated to amount to nearly $8 million. This is a mutually beneficial project. Slovakia receives a large sum of money and we receive gas from Europe, which is cheaper than Russian gas [even after the signing of the 'winter' package]," he said.

Vitrenko said that the release of reserve supplies via Velke Kapusany (the main transit point between Ukraine and Slovakia with four pipelines) would bring benefits to both sides. Along with Ukraine and Slovakia, the implementation of the project would allow for the strengthening of energy security of other countries in Eastern Europe.

"Stress tests show that if Russian gas supplies to Poland were halted, the country would face a lack of gas. Why no one says that we could receive gas via Slovakia [to Ukraine] and supply it to Poland, Romania, Hungary… This would not only have allowed for increases security, but would also increase market liquidity," Vitrenko said.