Ukraine could increase gas transit to 200 bcm in 10 yrs - Yanukovych

Ukraine wants to maintain gas transit to Europe at no less than 120 billion cubic meters (bcm) a year and is ready to set up a consortium to boost volumes to 200 bcm a year, President Viktor Yanukovych said at a press conference in Kyiv in Friday.

"We are interested in maintaining volumes through the Ukrainian gas transportation system to Europe at no less than 120 bcm. If the EU and Russia are interested in boosting shipment volumes, we are ready to consider that project. We have proposed this idea and are saying that there is such a possibility: a phased increase in delivery volumes to Europe up to 200 bcm," he said.

Modernization of the Ukrainian gas transportation system is possible in three phases. The first phase involves construction of the Bohorodchany-Uzhgorod pipeline. In the second phase, the gas transportation system would be upgraded while the overall system continues to operate. The third phase would see construction of additional pipeline segments parallel to existing ones, he said.

It will take 10 years to carry out the entire project, with the first phase requiring two-three years and the second - three-four years.