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Ukraine calls South Stream gas pipeline project 'unnecessary'

© RIA Novosti . Igor Zarembo / Go to the mediabankUkraine calls South Stream gas pipeline project 'unnecessary'
Ukraine calls South Stream gas pipeline project 'unnecessary'  - Sputnik International
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The South Stream gas pipeline project, which is due to transit Russian gas to Europe bypassing Ukrainian territory, is pointless, Ukraine's foreign minister said on Thursday.

The South Stream gas pipeline project, which is due to transit Russian gas to Europe bypassing Ukrainian territory, is pointless, Ukraine's foreign minister said on Thursday.

"Ukraine considers the South Stream [project] unnecessary. It is extremely unprofitable and does not convey any surplus value because it is not based on additional sources of natural gas," Unian news agency quoted Kostyantyn Hryshchenko as saying.

The Ukrainian gas transport system itself is capable of providing transportation of the entire gas volume Europe needs, he said at a press conference.

"Therefore there is no need to spend extra funds when there isn't enough for everyone anyway," he added.

Finnish Foreign Minister Alexander Stubb at the same press conference, on the other hand, approved plans on diversifying Russian gas transits.

"We back Nord Stream, we back South Stream and we back up Nabucco, but only in the short-term prospective because in the long-term natural gas is an [energy] source that will die out," he said.

Ukraine, which currently transits 80% of Russian gas to Europe, has been trying to urge Russia to abandon the South Stream project. If launched, South Stream will substantially reduce the amount of gas transited via Ukraine.

KIEV, July 8 (RIA Novosti)

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