Ukraine slams South Stream deal

Ukrainian Minister for Energy and Coal Industry Yuri Boiko said that the members of the European Energy Society who had approved construction of the South Stream Gas Pipeline with Gazprom are had violated the charter, Armenia Today reports.

Russia and Turkey reached an agreement on construction of the pipeline to transport Russian gas to the European Union.

Rosbalt reminds that the administration of Ukrainian President Victor Yanukovych believes that filling the South Stream will be a loss-making step for the Ukrainian gas system. Earlier reports said that Ukraine spoke out against neglect of the European Union in the problem.

The South Stream is to transport 63 billion cubic meters of Russian gas to Europe annually, starting in 2015. The pipeline will bypass Ukraine and Belarus. The project is worth about 15.5 billion euros. Gazprom holds 50% of the project’s shares, Eni (Italy) – 20%, EDF (France) and Wintershall (Germany) – 15% each.