Yanukovych suggests using Ukrainian storage facilities as gas exchange trading hub
KYIV. March 1 (Interfax) - Ukrainian could offer its underground gas storage facilities as the foundation for a new exchange market for gas once they have been modernized, Ukrainian President Viktor Yanukovych said.
"On what principle will the storage facilities work? We are also thinking about this now. Perhaps they will work according to the gas exchange principle. It could be a sort of spot market in Eastern Europe," Yanukovych told a press conference.
"Not just countries or large enterprises with long-term contracts with gas suppliers but also smaller enterprises could buy gas from these facilities," he said.
Ukraine is considering the issue of the de-monopolization of its gas market, Yanukovych said.
"The liberalization of the gas market is long overdue, and we are currently considering the issue of de-monopolizing the gas market of Ukraine," Yanukovych said.
A well-balanced approach is needed to resolve this issue, he said.
In particular, the president said he believes that the state should take care of gas supplies to the population and heating providers.
"And let large enterprises buy gas where they can. Naturally, to do this we need to diversify the sources of gas supply," the president said.
He added that his administration had been working on these issues for several years. Yanukovych said that the government had made certain progress on the path to achieving this goal.
